MML Investors Services LLC Sells 5,048 Shares of Consolidated Edison, Inc. (NYSE:ED)

MML Investors Services LLC lowered its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,020 shares of the utilities provider's stock after selling 5,048 shares during the quarter. MML Investors Services LLC's holdings in Consolidated Edison were worth $13,743,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Jacobi Capital Management LLC lifted its position in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after acquiring an additional 104 shares in the last quarter. Richwood Investment Advisors LLC raised its stake in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after purchasing an additional 115 shares during the period. Penobscot Investment Management Company Inc. lifted its holdings in shares of Consolidated Edison by 5.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 2,300 shares of the utilities provider's stock valued at $205,000 after purchasing an additional 125 shares in the last quarter. Trust Point Inc. boosted its position in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock worth $249,000 after buying an additional 131 shares during the period. Finally, Haverford Trust Co grew its holdings in shares of Consolidated Edison by 3.7% during the fourth quarter. Haverford Trust Co now owns 3,709 shares of the utilities provider's stock worth $331,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the topic of several research reports. Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Citigroup increased their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Finally, Barclays lifted their target price on Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $103.30.

Consolidated Edison Price Performance

NYSE:ED opened at $113.28 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The firm has a market capitalization of $40.80 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 3.05 and a beta of 0.27. The stock's 50 day moving average price is $105.44 and its two-hundred day moving average price is $99.32. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is presently 64.89%.

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.

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