Mercer Global Advisors Inc. ADV Has $21.86 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Mercer Global Advisors Inc. ADV lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,930 shares of the utilities provider’s stock after selling 26,139 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.07% of Consolidated Edison worth $21,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ED. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison during the 4th quarter worth about $27,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $35,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $36,000. Centricity Wealth Management LLC purchased a new position in Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Consolidated Edison in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of research reports. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley set a $94.00 target price on Consolidated Edison and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup lifted their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. One research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $103.60.

Consolidated Edison Price Performance

NYSE ED opened at $112.58 on Friday. Consolidated Edison, Inc. has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a fifty day simple moving average of $107.62 and a 200 day simple moving average of $99.81. 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 company has a market cap of $40.55 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.05 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.04). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter last year, the company earned $2.15 earnings per share. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm 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 dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.02%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Consolidated Edison Company 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.