RMR Wealth Builders Has $412,000 Stake in Consolidated Edison, Inc. (NYSE:ED)

RMR Wealth Builders increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,721 shares of the utilities provider’s stock after acquiring an additional 145 shares during the quarter. RMR Wealth Builders’ holdings in Consolidated Edison were worth $412,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ED. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the fourth quarter worth approximately $35,000. Centricity Wealth Management LLC acquired a new stake in Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $44,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

ED has been the subject of several research reports. Guggenheim lifted their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Barclays lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. KeyCorp downgraded shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.27.

Consolidated Edison Trading Up 0.1%

Shares of ED stock opened at $103.89 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock’s fifty day moving average price is $106.74 and its two-hundred day moving average price is $100.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The company has a market cap of $37.43 billion, a PE ratio of 19.83, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the business earned $2.15 EPS. Equities analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s payout ratio is 62.85%.

Consolidated Edison Company 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.