Retirement Systems of Alabama Has $36.10 Million Stake in Consolidated Edison, Inc. (NYSE:ED)

Retirement Systems of Alabama boosted its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 408.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 396,849 shares of the utilities provider's stock after buying an additional 318,858 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Consolidated Edison worth $36,101,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its holdings in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 194 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter valued at approximately $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter worth $32,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Consolidated Edison by 62.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 477 shares of the utilities provider's stock worth $41,000 after buying an additional 183 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. Scotiabank dropped 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 report on Monday, April 22nd. UBS Group lowered their price target on Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating on the stock in a research report on Friday, February 16th. KeyCorp upgraded shares of Consolidated Edison from an "underweight" rating to a "sector weight" rating in a research report on Thursday, January 4th. Barclays lifted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Finally, LADENBURG THALM/SH SH began coverage on Consolidated Edison in a research report on Wednesday, January 3rd. They issued a "neutral" rating and a $92.50 price objective for the company. 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's stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $87.54.

Consolidated Edison Trading Up 1.1 %

NYSE:ED traded up $1.04 on Monday, hitting $93.97. 1,146,301 shares of the stock were exchanged, compared to its average volume of 1,861,195. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 8.75 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.44. The company's 50-day moving average price is $89.65 and its 200 day moving average price is $89.97.

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

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is currently 46.24%.

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.