MassMutual Private Wealth & Trust FSB Sells 20,025 Shares of Consolidated Edison Inc $ED

Key Points

• MassMutual Private Wealth & Trust FSB significantly reduced its stake in Consolidated Edison Inc by 92.4%, selling 20,025 shares and retaining only 1,636 shares valued at $164,000 as of its latest SEC filing.
• In recent transactions, several institutional investors, including Deutsche Bank AG and JPMorgan Chase & Co., increased their positions in Consolidated Edison, contributing to a total of 66.29% of the stock now held by institutional investors.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a target price set at $105.82, following various upgrades and downgrades from institutions like Bank of America and Mizuho.

MassMutual Private Wealth & Trust FSB cut its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 92.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,636 shares of the utilities provider's stock after selling 20,025 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Consolidated Edison were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ED. Vanguard Group Inc. lifted its stake in Consolidated Edison by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock valued at $4,768,319,000 after acquiring an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider's stock valued at $538,437,000 after acquiring an additional 48,323 shares during the last quarter. Deutsche Bank AG lifted its position in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after buying an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after buying an additional 1,441,785 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new position in Consolidated Edison in the first quarter valued at about $254,205,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ED shares. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Mizuho lifted their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays boosted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Performance

Shares of ED opened at $96.41 on Friday. The business's 50 day moving average is $100.53 and its two-hundred day moving average is $103.69. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a market cap of $34.77 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.68 and a beta of 0.28. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison's dividend payout ratio is presently 61.71%.

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.

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