Consolidated Edison, Inc. (NYSE:ED) Stake Cut by Rockland Trust Co.

Rockland Trust Co. trimmed its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,735 shares of the utilities provider’s stock after selling 404 shares during the period. Rockland Trust Co.’s holdings in Consolidated Edison were worth $10,802,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV grew its holdings in Consolidated Edison by 2,486.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock worth $1,977,000 after buying an additional 20,934 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Consolidated Edison by 35.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after purchasing an additional 12,307 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Consolidated Edison by 57.4% during the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after purchasing an additional 148,988 shares during the period. Finally, Mizuho Markets Americas LLC raised its stake in shares of Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after purchasing an additional 62,260 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.4 %

Shares of NYSE:ED opened at $104.02 on Friday. The firm has a fifty day moving average of $101.91 and a two-hundred day moving average of $95.51. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 12-month low of $82.00 and a 12-month high of $105.99. The firm has a market capitalization of $35.97 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data 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. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm earned $0.61 earnings per share. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is presently 63.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ED. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. Morgan Stanley lifted their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America upped their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $93.81.

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.