MML Investors Services LLC Grows Stock Position in Consolidated Edison, Inc. (NYSE:ED)

MML Investors Services LLC grew its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,068 shares of the utilities provider's stock after purchasing an additional 12,282 shares during the period. MML Investors Services LLC's holdings in Consolidated Edison were worth $16,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. Yaupon Capital Management LP purchased a new position in Consolidated Edison during the third quarter worth $11,685,000. National Bank of Canada FI boosted its stake in shares of Consolidated Edison by 350.6% during the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock worth $64,634,000 after purchasing an additional 482,953 shares during the period. Wellington Management Group LLP bought a new position in Consolidated Edison during the 3rd quarter valued at about $216,000. Worldquant Millennium Advisors LLC raised its position in Consolidated Edison by 709.5% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 245,966 shares of the utilities provider's stock worth $25,612,000 after purchasing an additional 215,581 shares during the period. Finally, State Street Corp lifted its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group raised their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Morgan Stanley cut their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank raised their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a research report on Tuesday, August 20th. Finally, Barclays lowered their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $99.13.

Consolidated Edison Stock Down 0.1 %

NYSE ED traded down $0.08 on Tuesday, hitting $94.70. The stock had a trading volume of 1,695,422 shares, compared to its average volume of 1,893,423. The business's fifty day moving average price is $100.90 and its 200 day moving average price is $98.23. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.18 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.02 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.34 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, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.51%. Consolidated Edison's payout ratio is currently 62.52%.

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.