MML Investors Services LLC decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,442 shares of the utilities provider’s stock after selling 2,087 shares during the quarter. MML Investors Services LLC’s holdings in Consolidated Edison were worth $5,650,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in Consolidated Edison by 2.7% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 116 shares in the last quarter. 6 Meridian raised its holdings in Consolidated Edison by 1.9% during the second quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock worth $552,000 after purchasing an additional 117 shares in the last quarter. Valmark Advisers Inc. raised its holdings in Consolidated Edison by 5.5% during the second quarter. Valmark Advisers Inc. now owns 2,510 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 131 shares in the last quarter. Round Table Services LLC raised its holdings in Consolidated Edison by 2.3% during the second quarter. Round Table Services LLC now owns 6,140 shares of the utilities provider’s stock worth $538,000 after purchasing an additional 138 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC raised its holdings in Consolidated Edison by 2.5% during the second quarter. Carnegie Capital Asset Management LLC now owns 5,566 shares of the utilities provider’s stock worth $488,000 after purchasing an additional 138 shares in the last quarter. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ED traded down $0.80 during mid-day trading on Friday, reaching $89.39. 630,898 shares of the company’s stock were exchanged, compared to its average volume of 1,597,094. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.62 and a quick ratio of 0.56. The stock has a market capitalization of $29.87 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 10.30 and a beta of 0.08. The business’s fifty day simple moving average is $87.69 and its 200-day simple moving average is $86.39. Consolidated Edison, Inc. has a 52-week low of $73.29 and a 52-week high of $91.58.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Consolidated Edison had a net margin of 10.71% and a return on equity of 8.04%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $0.61 earnings per share. Equities research analysts predict that Consolidated Edison, Inc. will post 4.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.96 dividend on an annualized basis and a yield of 3.31%. Consolidated Edison’s dividend payout ratio (DPR) is 68.52%.

A number of analysts have weighed in on the stock. ValuEngine cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp began coverage on shares of Consolidated Edison in a research report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Credit Suisse Group lowered their target price on shares of Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a research report on Thursday, August 8th. Barclays restated a “hold” rating and set a $90.00 target price on shares of Consolidated Edison in a research report on Thursday, June 20th. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $93.00 to $91.00 and set an “underweight” rating on the stock in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.73.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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