Trustmark National Bank Trust Department Grows Stake in Consolidated Edison, Inc. (NYSE:ED)

Trustmark National Bank Trust Department boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 193.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,210 shares of the utilities provider’s stock after buying an additional 8,046 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Consolidated Edison were worth $1,271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ED. Pathway Financial Advisers LLC lifted its holdings in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock worth $2,546,000 after buying an additional 24,211 shares in the last quarter. Plato Investment Management Ltd grew its holdings in Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after buying an additional 9,903 shares in the last quarter. Cetera Advisors LLC increased its stake in Consolidated Edison by 74.5% during the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the period. Czech National Bank lifted its position in Consolidated Edison by 8.5% in the second quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock worth $5,893,000 after purchasing an additional 5,161 shares during the period. Finally, National Pension Service grew its holdings in Consolidated Edison by 7.0% during the third quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after acquiring an additional 30,838 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $98.67 on Friday. The firm’s 50-day simple moving average is $102.14 and its 200 day simple moving average is $98.06. Consolidated Edison, Inc. has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The stock has a market cap of $34.18 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.26 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.02 billion. As a group, research analysts anticipate that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.36%. Consolidated Edison’s payout ratio is 62.52%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. Morgan Stanley raised their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Bank of America lifted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank raised their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.35.

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.