New York State Common Retirement Fund Sells 39,661 Shares of Consolidated Edison, Inc. (NYSE:ED)

New York State Common Retirement Fund lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,095 shares of the utilities provider's stock after selling 39,661 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Consolidated Edison worth $29,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ED. Newport Trust Company LLC bought a new position in Consolidated Edison during the third quarter worth $51,134,000. International Assets Investment Management LLC increased its holdings in Consolidated Edison by 9,063.6% in the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider's stock valued at $47,216,000 after buying an additional 513,364 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Consolidated Edison in the 3rd quarter valued at $39,556,000. Northern Trust Corp increased its holdings in Consolidated Edison by 8.2% in the 3rd quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider's stock valued at $383,519,000 after buying an additional 340,239 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in Consolidated Edison in the 3rd quarter valued at $28,156,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Down 1.2 %

Shares of ED stock traded down $1.16 on Friday, reaching $92.95. The company had a trading volume of 1,418,563 shares, compared to its average volume of 1,870,022. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The stock has a market cap of $32.12 billion, a PE ratio of 12.95, a PEG ratio of 8.79 and a beta of 0.35. The company has a 50-day moving average of $89.52 and a 200-day moving average of $89.90. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $100.44.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.02. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.70 billion. During the same period in the prior year, the business posted $0.81 EPS. Consolidated Edison's revenue was down 14.6% on a year-over-year basis. On average, equities analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.57%. Consolidated Edison's payout ratio is 46.24%.

Analysts Set New Price Targets

Several brokerages have issued reports on ED. UBS Group lowered their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an "underweight" rating to a "sector weight" rating in a research note on Thursday, January 4th. Royal Bank of Canada reduced their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating on the stock in a research note on Friday, February 16th. Scotiabank reduced their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a "sector underperform" rating on the stock in a research note on Monday. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a "neutral" rating and a $92.50 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average target price of $87.54.

Consolidated Edison Company 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.