California State Teachers Retirement System Sells 104,839 Shares of Consolidated Edison, Inc. (NYSE:ED)

California State Teachers Retirement System decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 605,390 shares of the utilities provider's stock after selling 104,839 shares during the period. California State Teachers Retirement System owned 0.17% of Consolidated Edison worth $54,019,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $36,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter worth $35,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Consolidated Edison during the 4th 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. Morgan Stanley decreased their target price on shares of Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. UBS Group boosted their price objective on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective for the company. in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and an average target price of $104.27.

Consolidated Edison Trading Up 1.2%

Shares of Consolidated Edison stock traded up $1.27 during trading on Friday, hitting $104.65. The company's stock had a trading volume of 6,398,492 shares, compared to its average volume of 2,308,764. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock has a market cap of $37.70 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The stock has a 50-day moving average price of $107.99 and a two-hundred day moving average price of $100.12. Consolidated Edison, Inc. has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). 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 period last year, the company posted $2.15 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given 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 3.25%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.

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.