New York State Teachers Retirement System Sells 9,591 Shares of Consolidated Edison Inc (NYSE:ED)

New York State Teachers Retirement System lowered its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 285,342 shares of the utilities provider's stock after selling 9,591 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Consolidated Edison worth $31,556,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ED. Jacobi Capital Management LLC lifted its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock valued at $229,000 after purchasing an additional 104 shares during the last quarter. Glen Eagle Advisors LLC increased its position in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider's stock worth $170,000 after acquiring an additional 111 shares in the last quarter. Richwood Investment Advisors LLC raised its holdings in shares of Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider's stock valued at $463,000 after acquiring an additional 115 shares during the period. Western Wealth Management LLC lifted its position in shares of Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock valued at $1,781,000 after acquiring an additional 116 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in Consolidated Edison by 1.6% in the 1st quarter. Integrated Advisors Network LLC now owns 7,842 shares of the utilities provider's stock worth $867,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Performance

ED traded up $0.16 on Friday, hitting $100.08. 1,316,576 shares of the stock traded hands, compared to its average volume of 2,387,608. The business has a fifty day moving average price of $103.91 and a two-hundred day moving average price of $100.90. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $36.06 billion, a PE ratio of 18.50, a P/E/G ratio of 3.19 and a beta of 0.26. 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 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). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. On average, research analysts predict 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 was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.40%. Consolidated Edison's payout ratio is presently 62.85%.

Analysts Set New Price Targets

Several research firms recently weighed in on ED. Guggenheim upped their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citigroup increased 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. KeyCorp downgraded Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. Finally, Barclays boosted their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $105.27.

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.