Mercer Global Advisors Inc. ADV Sells 26,139 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mercer Global Advisors Inc. ADV lessened its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,930 shares of the utilities provider's stock after selling 26,139 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.07% of Consolidated Edison worth $21,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. AlphaMark Advisors LLC acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $35,000. Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Consolidated Edison during the 4th quarter worth approximately $44,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ED. Guggenheim lifted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday. Evercore ISI cut Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Barclays increased their price target on shares of Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $105.70.

Consolidated Edison Price Performance

NYSE:ED traded down $2.49 during mid-day trading on Friday, reaching $110.07. The stock had a trading volume of 3,421,756 shares, compared to its average volume of 2,224,664. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a 50-day simple moving average of $107.80 and a two-hundred day simple moving average of $99.76. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market capitalization of $39.65 billion, a PE ratio of 21.01, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $2.15 EPS. On average, equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is currently 64.89%.

Consolidated Edison Company 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.