Public Employees Retirement Association of Colorado Has $3.77 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Public Employees Retirement Association of Colorado trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,215 shares of the utilities provider's stock after selling 3,631 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Consolidated Edison were worth $3,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ED. AlphaMark Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter worth about $27,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $35,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth approximately $36,000. Centricity Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $44,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of ED traded down $2.49 during trading hours on Friday, reaching $110.07. 3,421,756 shares of the company traded hands, compared to its average volume of 2,225,626. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock's fifty day moving average is $107.80 and its 200 day moving average is $99.85. Consolidated Edison, Inc. has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a market cap of $39.65 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27.

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 firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $2.15 EPS. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 64.89%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ED. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Finally, UBS Group boosted their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $105.70.

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.