Trustmark National Bank Trust Department Has $1.27 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Trustmark National Bank Trust Department boosted its stake in Consolidated Edison, Inc. (NYSE:ED) by 193.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,210 shares of the utilities provider’s stock after acquiring an additional 8,046 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Consolidated Edison were worth $1,271,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ED. Edgestream Partners L.P. lifted its stake in shares of Consolidated Edison by 148.2% in the first quarter. Edgestream Partners L.P. now owns 6,005 shares of the utilities provider’s stock worth $545,000 after acquiring an additional 3,586 shares during the period. Clearbridge Investments LLC increased its position in shares of Consolidated Edison by 2.1% during the first quarter. Clearbridge Investments LLC now owns 28,761 shares of the utilities provider’s stock valued at $2,612,000 after buying an additional 595 shares during the period. CreativeOne Wealth LLC grew its stake in Consolidated Edison by 38.7% during the first quarter. CreativeOne Wealth LLC now owns 3,943 shares of the utilities provider’s stock valued at $358,000 after acquiring an additional 1,100 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Consolidated Edison by 2.3% during the 1st quarter. EP Wealth Advisors LLC now owns 12,914 shares of the utilities provider’s stock valued at $1,173,000 after purchasing an additional 293 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Consolidated Edison by 7.2% in the 1st quarter. Advisors Asset Management Inc. now owns 17,047 shares of the utilities provider’s stock valued at $1,548,000 after acquiring an additional 1,138 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.8 %

Shares of Consolidated Edison stock opened at $98.67 on Friday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. 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 business’s 50 day simple moving average is $102.14 and its 200-day simple moving average is $98.06. The stock has a market capitalization of $34.18 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.36%. Consolidated Edison’s dividend payout ratio is 62.52%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ED. Bank of America raised their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Morgan Stanley increased their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, UBS Group lifted their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.35.

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.