TIAA Trust National Association Has $2.09 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

TIAA Trust National Association cut its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,367 shares of the utilities provider’s stock after selling 586 shares during the quarter. TIAA Trust National Association’s holdings in Consolidated Edison were worth $2,085,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison in the 4th quarter valued at $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth $36,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at about $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Consolidated Edison during the fourth quarter worth about $44,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. Scotiabank increased their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Mizuho lifted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays raised their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Finally, UBS Group boosted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.40.

Consolidated Edison Price Performance

ED opened at $107.41 on Thursday. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $98.95 and a 200-day moving average price of $98.46. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $109.36.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.63 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current 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 paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.17%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

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.