MassMutual Private Wealth & Trust FSB Buys 163 Shares of Consolidated Edison, Inc. (NYSE:ED)

MassMutual Private Wealth & Trust FSB lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,435 shares of the utilities provider’s stock after acquiring an additional 163 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Consolidated Edison were worth $1,913,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ED. Ballast Inc. grew its stake in Consolidated Edison by 4.0% in the 4th quarter. Ballast Inc. now owns 16,052 shares of the utilities provider’s stock valued at $1,432,000 after buying an additional 610 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Consolidated Edison by 20.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,177 shares of the utilities provider’s stock valued at $730,000 after acquiring an additional 1,363 shares during the period. Astoria Portfolio Advisors LLC. grew its position in shares of Consolidated Edison by 20.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,350 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 393 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $250,000. Finally, HB Wealth Management LLC lifted its position in shares of Consolidated Edison by 11.8% during the 4th quarter. HB Wealth Management LLC now owns 9,325 shares of the utilities provider’s stock worth $832,000 after purchasing an additional 981 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.6 %

Shares of ED opened at $93.74 on Tuesday. The stock has a 50 day simple moving average of $93.35 and a 200-day simple moving average of $97.97. 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 stock has a market cap of $32.47 billion, a PE ratio of 17.65, a PEG ratio of 2.81 and a beta of 0.38. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.63%. Consolidated Edison’s payout ratio is 62.52%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ED shares. Barclays lowered their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Evercore ISI upgraded shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.64.

About Consolidated Edison

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.