Consolidated Edison, Inc. (NYSE:ED) Position Increased by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department raised its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 193.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,210 shares of the utilities provider's stock after purchasing an additional 8,046 shares during the quarter. Trustmark National Bank Trust Department's holdings in Consolidated Edison were worth $1,271,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the third quarter valued at approximately $27,000. Beacon Capital Management LLC grew its holdings in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock worth $28,000 after purchasing an additional 300 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at $30,000. Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Consolidated Edison during the second quarter valued at $33,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ED shares. Jefferies Financial Group started coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price objective on the stock. Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday. Barclays decreased their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating for the company in a report on Friday, November 8th. UBS Group raised their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, Bank of America lifted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $98.19.

Consolidated Edison Stock Down 0.3 %

NYSE:ED traded down $0.34 during trading hours on Friday, hitting $98.36. 1,182,560 shares of the stock traded hands, compared to its average volume of 1,866,645. The firm has a market cap of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.26 and a beta of 0.36. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $102.01 and a 200 day moving average price of $98.08.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.38%. Consolidated Edison's dividend payout ratio (DPR) is currently 62.52%.

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.