TIAA Trust National Association Has $1.93 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

TIAA Trust National Association trimmed its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,569 shares of the utilities provider’s stock after selling 1,075 shares during the period. TIAA Trust National Association’s holdings in Consolidated Edison were worth $1,929,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC grew its holdings in shares of Consolidated Edison by 8.3% during the second quarter. Rockline Wealth Management LLC now owns 7,997 shares of the utilities provider’s stock valued at $715,000 after buying an additional 615 shares in the last quarter. Versor Investments LP purchased a new position in Consolidated Edison during the 2nd quarter valued at about $988,000. PrairieView Partners LLC purchased a new stake in shares of Consolidated Edison in the second quarter worth approximately $894,000. Crestwood Advisors Group LLC boosted its holdings in shares of Consolidated Edison by 5.7% during the second quarter. Crestwood Advisors Group LLC now owns 4,969 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 270 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in shares of Consolidated Edison by 22.5% during the second quarter. Natixis Advisors LLC now owns 159,903 shares of the utilities provider’s stock worth $14,299,000 after purchasing an additional 29,400 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.1 %

Consolidated Edison stock opened at $104.40 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a fifty day moving average price of $96.63 and a two-hundred day moving average price of $93.29. The firm has a market cap of $36.11 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 3.43 and a beta of 0.34. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter last year, the firm posted $0.61 EPS. As a group, analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.18%. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

A number of research firms have issued reports on ED. UBS Group increased their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Morgan Stanley increased their price objective on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Bank of America boosted their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Argus raised Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $92.65.

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.