Consolidated Edison, Inc. (NYSE:ED) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury decreased its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,251 shares of the utilities provider's stock after selling 4,269 shares during the quarter. State of Tennessee Department of Treasury's holdings in Consolidated Edison were worth $7,072,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have weighed in on ED. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. UBS Group raised their target price 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. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of "Hold" and an average price target of $103.60.

Consolidated Edison Stock Performance

ED stock traded down $0.06 during midday trading on Wednesday, reaching $112.07. The stock had a trading volume of 415,056 shares, compared to its average volume of 2,204,782. 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 firm has a fifty day simple moving average of $107.07 and a two-hundred day simple moving average of $99.66. The stock has a market cap of $40.37 billion, a PE ratio of 21.39, a P/E/G ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. As a group, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business 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 $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.03%. Consolidated Edison's dividend payout ratio (DPR) is presently 64.89%.

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.