Massmutual Trust Co. FSB ADV Purchases 20,934 Shares of Consolidated Edison, Inc. (NYSE:ED)

Massmutual Trust Co. FSB ADV increased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 2,486.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 21,776 shares of the utilities provider’s stock after purchasing an additional 20,934 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Consolidated Edison were worth $1,977,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Kestra Advisory Services LLC increased its stake in shares of Consolidated Edison by 1.6% during the third quarter. Kestra Advisory Services LLC now owns 50,463 shares of the utilities provider’s stock worth $4,316,000 after purchasing an additional 773 shares during the period. Rafferty Asset Management LLC boosted its holdings in Consolidated Edison by 11.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 35,147 shares of the utilities provider’s stock valued at $3,006,000 after purchasing an additional 3,490 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $876,000. Invesco Ltd. increased its holdings in shares of Consolidated Edison by 4.5% during the third quarter. Invesco Ltd. now owns 2,976,921 shares of the utilities provider’s stock worth $254,616,000 after purchasing an additional 129,519 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $550,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.2 %

ED opened at $90.53 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $98.85. The company’s 50 day moving average price is $93.53 and its two-hundred day moving average price is $91.21. The firm has a market capitalization of $31.31 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.29 and a beta of 0.35.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. Consolidated Edison’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.34 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a $0.83 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.67%. Consolidated Edison’s payout ratio is 63.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ED shares. Scotiabank reduced their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a research report on Monday, April 22nd. Barclays increased their target price on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Wells Fargo & Company boosted their price target on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Morgan Stanley increased their price objective on shares of Consolidated Edison from $73.00 to $80.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 28th. Finally, Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $89.58.

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.