New York State Common Retirement Fund Buys 64,700 Shares of Consolidated Edison Inc (NYSE:ED)

New York State Common Retirement Fund increased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,624 shares of the utilities provider's stock after buying an additional 64,700 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Consolidated Edison worth $33,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Consolidated Edison during the 4th quarter valued at approximately $399,824,000. GAMMA Investing LLC boosted its position in shares of Consolidated Edison by 15,937.5% during the first quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after purchasing an additional 1,015,700 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after purchasing an additional 879,866 shares in the last quarter. Invesco Ltd. grew its stake in Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after purchasing an additional 812,885 shares during the period. Finally, Marshall Wace LLP raised its holdings in Consolidated Edison by 232.3% in the fourth quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after purchasing an additional 736,348 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Guggenheim lifted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Mizuho upgraded Consolidated Edison from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $105.00 to $107.00 in a research note on Monday, June 30th. Finally, KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $105.09.

Consolidated Edison Stock Performance

Shares of NYSE:ED traded up $0.24 during midday trading on Thursday, reaching $100.70. 2,131,708 shares of the company's stock traded hands, compared to its average volume of 2,409,151. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The stock has a 50 day moving average of $101.95 and a 200 day moving average of $101.56. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market cap of $36.28 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.19 and a beta of 0.26.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate 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 11.98% and a return on equity of 8.61%. During the same period in the previous year, the company earned $2.15 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

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.