Marino Stram & Associates LLC Has $1.78 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Marino Stram & Associates LLC boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,515 shares of the utilities provider’s stock after buying an additional 250 shares during the period. Marino Stram & Associates LLC’s holdings in Consolidated Edison were worth $1,775,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. United Asset Strategies Inc. increased its stake in Consolidated Edison by 3.7% in the fourth quarter. United Asset Strategies Inc. now owns 5,976 shares of the utilities provider’s stock valued at $544,000 after acquiring an additional 215 shares during the last quarter. Imprint Wealth LLC lifted its position in shares of Consolidated Edison by 5.2% during the 4th quarter. Imprint Wealth LLC now owns 4,346 shares of the utilities provider’s stock worth $395,000 after buying an additional 214 shares during the last quarter. SVB Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at about $222,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Consolidated Edison by 17.9% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,755 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 873 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Consolidated Edison during the fourth quarter worth about $1,901,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED traded down $1.24 on Tuesday, reaching $88.08. 697,974 shares of the company’s stock traded hands, compared to its average volume of 1,752,372. The stock’s 50 day simple moving average is $88.90 and its two-hundred day simple moving average is $89.52. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $100.92. The stock has a market cap of $30.43 billion, a PE ratio of 12.44, a PEG ratio of 8.36 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is 46.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ED shares. Scotiabank lifted their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. UBS Group lowered their target price on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price for the company. Royal Bank of Canada decreased their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Finally, Barclays increased their price target on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.96.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.