Consolidated Edison, Inc. (NYSE:ED) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 247,924 shares of the utilities provider’s stock after selling 54,767 shares during the period. New York State Common Retirement Fund’s holdings in Consolidated Edison were worth $25,816,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ED. Beacon Capital Management LLC lifted its position in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Consolidated Edison in the 1st quarter worth approximately $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Consolidated Edison in the third quarter valued at approximately $55,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 1.7 %

NYSE ED opened at $100.00 on Monday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a 50 day moving average of $103.54 and a two-hundred day moving average of $97.73. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $34.62 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.43 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the company earned $0.61 EPS. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 64.59%.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. Morgan Stanley raised their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and raised their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays boosted their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. UBS Group raised their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.73.

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.