Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,905 shares of the utilities provider's stock after selling 10,479 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Consolidated Edison were worth $12,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ED. JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after purchasing an additional 82,985 shares during the period. Jones Financial Companies Lllp lifted its holdings in Consolidated Edison by 81.4% in the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after buying an additional 4,451 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in Consolidated Edison in the 4th quarter valued at about $446,000. SG Americas Securities LLC grew its stake in shares of Consolidated Edison by 241.4% during the fourth quarter. SG Americas Securities LLC now owns 26,404 shares of the utilities provider's stock valued at $2,356,000 after acquiring an additional 18,669 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Consolidated Edison by 11.1% during the fourth quarter. KBC Group NV now owns 46,095 shares of the utilities provider's stock valued at $4,113,000 after acquiring an additional 4,588 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

ED traded up $1.18 during trading hours on Thursday, hitting $103.29. 2,675,340 shares of the stock were exchanged, compared to its average volume of 2,832,984. The stock has a market cap of $37.22 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The stock has a 50-day simple moving average of $108.06 and a 200-day simple moving average of $100.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a 12 month low of $87.28 and a 12 month high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm posted $2.15 earnings per share. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid 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 yield of 3.29%. Consolidated Edison's payout ratio is currently 62.85%.

Analyst Ratings Changes

A number of research analysts recently commented on ED shares. Mizuho increased their price target on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Citigroup upped their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Wells Fargo & Company increased their target price on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Barclays raised 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. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $104.27.

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.