Teachers Retirement System of The State of Kentucky Reduces Holdings in Consolidated Edison, Inc. (NYSE:ED)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:EDGet Rating) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,961 shares of the utilities provider’s stock after selling 1,086 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Consolidated Edison were worth $2,363,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Johnson Investment Counsel Inc. grew its stake in shares of Consolidated Edison by 1.4% during the first quarter. Johnson Investment Counsel Inc. now owns 11,826 shares of the utilities provider’s stock worth $1,120,000 after acquiring an additional 158 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Consolidated Edison by 158.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 277,535 shares of the utilities provider’s stock valued at $26,276,000 after buying an additional 170,229 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Consolidated Edison by 4.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,318,370 shares of the utilities provider’s stock valued at $124,823,000 after buying an additional 58,426 shares during the last quarter. Symmetry Partners LLC boosted its position in Consolidated Edison by 111.3% in the first quarter. Symmetry Partners LLC now owns 8,251 shares of the utilities provider’s stock valued at $781,000 after buying an additional 4,346 shares during the last quarter. Finally, Hightower 6M Holding LLC purchased a new stake in Consolidated Edison in the first quarter valued at approximately $228,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.

Consolidated Edison Trading Down 1.1 %

Shares of ED stock opened at $97.37 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.88 and a quick ratio of 0.82. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 10.87 and a beta of 0.25. The stock has a 50 day simple moving average of $97.58 and a 200-day simple moving average of $95.34. Consolidated Edison, Inc. has a 1-year low of $71.52 and a 1-year high of $102.21.

Consolidated Edison (NYSE:EDGet Rating) last announced its earnings results on Thursday, August 4th. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. Consolidated Edison had a return on equity of 7.83% and a net margin of 11.16%. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts expect that Consolidated Edison, Inc. will post 4.48 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, August 16th. Consolidated Edison’s dividend payout ratio is currently 69.15%.

Analyst Upgrades and Downgrades

ED has been the topic of a number of recent research reports. KeyCorp upped their target price on Consolidated Edison from $72.00 to $75.00 and gave the company an “underweight” rating in a research report on Tuesday, July 19th. Mizuho dropped their target price on Consolidated Edison from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, June 27th. Credit Suisse Group boosted their price target on Consolidated Edison from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Finally, Morgan Stanley boosted their price target on Consolidated Edison from $77.00 to $84.00 and gave the company an “underweight” rating in a report on Tuesday, August 23rd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.00.

About Consolidated Edison

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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 3.5 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 1,555 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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