Consolidated Edison, Inc. (NYSE:ED) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,367 shares of the utilities provider’s stock after selling 11,792 shares during the period. UMB Bank n.a.’s holdings in Consolidated Edison were worth $1,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Consolidated Edison by 1.1% in the third quarter. Vanguard Group Inc. now owns 42,918,192 shares of the utilities provider’s stock valued at $3,680,664,000 after acquiring an additional 483,980 shares in the last quarter. Legal & General Group Plc boosted its stake in Consolidated Edison by 0.7% in the second quarter. Legal & General Group Plc now owns 6,454,457 shares of the utilities provider’s stock valued at $613,822,000 after acquiring an additional 46,601 shares in the last quarter. Northern Trust Corp boosted its stake in Consolidated Edison by 2.0% in the second quarter. Northern Trust Corp now owns 4,118,917 shares of the utilities provider’s stock valued at $391,709,000 after acquiring an additional 82,719 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Consolidated Edison by 7.4% in the third quarter. UBS Asset Management Americas Inc. now owns 4,087,000 shares of the utilities provider’s stock worth $350,501,000 after buying an additional 281,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Consolidated Edison by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 3,072,363 shares of the utilities provider’s stock worth $263,485,000 after buying an additional 196,032 shares during the last quarter. 64.95% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Down 0.7 %

ED opened at $95.63 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $78.10 and a fifty-two week high of $102.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.14. The company has a fifty day moving average of $93.34 and a two-hundred day moving average of $92.97. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 9.85 and a beta of 0.35.

Consolidated Edison (NYSE:ED – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Consolidated Edison had a net margin of 10.59% and a return on equity of 7.79%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, research analysts expect that Consolidated Edison, Inc. will post 4.86 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were issued a $0.81 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, February 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.39%. Consolidated Edison’s payout ratio is presently 69.38%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $87.00 to $98.00 in a report on Wednesday, December 14th. Citigroup raised their price target on shares of Consolidated Edison from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday, February 22nd. Bank of America raised shares of Consolidated Edison from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $78.00 to $95.00 in a report on Wednesday, November 30th. Credit Suisse Group decreased their price target on shares of Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday, February 17th. Finally, Morgan Stanley decreased their price target on shares of Consolidated Edison from $79.00 to $76.00 and set an “underweight” rating for the company in a report on Wednesday, February 22nd. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.25.

Consolidated Edison Profile

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Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.