Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 12,001 shares of the utilities provider’s stock after selling 209 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Consolidated Edison were worth $1,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sagespring Wealth Partners LLC bought a new stake in Consolidated Edison in the fourth quarter worth about $311,000. Townsquare Capital LLC raised its holdings in shares of Consolidated Edison by 6.2% in the 4th quarter. Townsquare Capital LLC now owns 5,921 shares of the utilities provider’s stock worth $528,000 after purchasing an additional 347 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Consolidated Edison by 53.3% during the fourth quarter. Sterling Capital Management LLC now owns 21,169 shares of the utilities provider’s stock valued at $1,889,000 after purchasing an additional 7,358 shares during the last quarter. Heritage Trust Co acquired a new position in Consolidated Edison in the fourth quarter worth approximately $481,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Consolidated Edison by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 152,313 shares of the utilities provider’s stock valued at $13,591,000 after buying an additional 950 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

Shares of ED opened at $112.11 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87. The company’s fifty day moving average is $103.50 and its 200-day moving average is $98.96. The firm has a market cap of $40.38 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.03%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Citigroup increased their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Finally, Morgan Stanley lifted their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.80.

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.