MassMutual Private Wealth & Trust FSB Acquires 163 Shares of Consolidated Edison, Inc. (NYSE:ED)

MassMutual Private Wealth & Trust FSB grew its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,435 shares of the utilities provider’s stock after buying an additional 163 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Consolidated Edison were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Consolidated Edison by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after buying an additional 125,859 shares during the last quarter. Blair William & Co. IL boosted its holdings in Consolidated Edison by 4.6% in the second quarter. Blair William & Co. IL now owns 29,811 shares of the utilities provider’s stock valued at $2,666,000 after acquiring an additional 1,324 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Consolidated Edison by 13.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 868 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 100 shares during the period. King Luther Capital Management Corp bought a new stake in Consolidated Edison during the 2nd quarter worth about $234,000. Finally, AE Wealth Management LLC lifted its position in Consolidated Edison by 23.4% during the 2nd quarter. AE Wealth Management LLC now owns 11,412 shares of the utilities provider’s stock valued at $1,020,000 after purchasing an additional 2,163 shares during the period. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays dropped their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.64.

Consolidated Edison Trading Up 1.6 %

Shares of NYSE:ED opened at $93.74 on Tuesday. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.81 and a beta of 0.38. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company’s fifty day simple moving average is $93.35 and its 200 day simple moving average is $97.97. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, research analysts forecast that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.63%. Consolidated Edison’s payout ratio is presently 62.52%.

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.