Massmutual Trust Co. FSB ADV Sells 345 Shares of Consolidated Edison, Inc. (NYSE:ED)

Massmutual Trust Co. FSB ADV lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,431 shares of the utilities provider’s stock after selling 345 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Consolidated Edison were worth $1,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Beacon Capital Management LLC grew its stake in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $29,000. Tidemark LLC acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $29,000. Raleigh Capital Management Inc. acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $29,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $33,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ED shares. Bank of America increased their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday. 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 report on Friday, July 19th. Barclays lowered shares of Consolidated Edison from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $97.00 to $92.00 in a report on Monday, July 22nd. Guggenheim increased their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Scotiabank cut their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.35.

Consolidated Edison Stock Down 1.1 %

Consolidated Edison stock traded down $1.13 during mid-day trading on Monday, reaching $100.70. The company’s stock had a trading volume of 2,846,197 shares, compared to its average volume of 1,892,421. The company has a market capitalization of $34.83 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.56 and a beta of 0.34. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The business’s 50 day simple moving average is $92.36 and its 200 day simple moving average is $91.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.70%. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

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.