Consolidated Edison Inc (NYSE:ED) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 197,712 shares of the utilities provider's stock after acquiring an additional 21,198 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of Consolidated Edison worth $21,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock worth $3,788,319,000 after acquiring an additional 488,752 shares during the last quarter. Geode Capital Management LLC increased its holdings in Consolidated Edison by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after purchasing an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Consolidated Edison by 6.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after purchasing an additional 271,088 shares in the last quarter. Norges Bank purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $399,824,000. Finally, Northern Trust Corp boosted its stake in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock valued at $375,458,000 after buying an additional 390,708 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ED shares. Morgan Stanley cut their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Citigroup upped 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. Barclays increased their price target 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. Wells Fargo & Company boosted their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, UBS Group increased their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average price target of $104.18.

Consolidated Edison Stock Performance

NYSE ED traded down $0.28 during trading hours on Friday, reaching $98.13. The company's stock had a trading volume of 2,880,053 shares, compared to its average volume of 2,368,610. The stock has a market cap of $35.36 billion, a PE ratio of 18.14, a PEG ratio of 3.13 and a beta of 0.27. The business has a 50-day simple moving average of $105.13 and a 200 day simple moving average of $100.65. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its 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). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business earned $2.15 earnings per share. Equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

About Consolidated Edison

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.