MML Investors Services LLC Sells 5,048 Shares of Consolidated Edison, Inc. (NYSE:ED)

MML Investors Services LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,020 shares of the utilities provider's stock after selling 5,048 shares during the quarter. MML Investors Services LLC's holdings in Consolidated Edison were worth $13,743,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock valued at $3,788,319,000 after purchasing an additional 488,752 shares in the last quarter. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after buying an additional 130,234 shares during the period. Norges Bank acquired a new position in Consolidated Edison in the 4th quarter valued at about $399,824,000. Invesco Ltd. increased its position in shares of Consolidated Edison by 27.9% during the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after acquiring an additional 812,885 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider's stock valued at $198,625,000 after buying an additional 77,323 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays upped their price objective on shares of Consolidated Edison from $95.00 to $100.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 22nd. Evercore ISI cut shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. UBS Group boosted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Scotiabank raised their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $103.60.

Consolidated Edison Stock Up 0.1 %

NYSE:ED traded up $0.06 on Monday, hitting $110.51. 663,950 shares of the company's stock traded hands, compared to its average volume of 2,199,382. The company has a market cap of $39.81 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. 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 firm has a 50-day moving average price of $106.42 and a 200-day moving average price of $99.51. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is 64.89%.

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.