Consolidated Edison, Inc. (NYSE:ED) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in Consolidated Edison, Inc. (NYSE:ED – Get Rating) by 1.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 562,264 shares of the utilities provider’s stock after selling 8,130 shares during the quarter. California State Teachers Retirement System’s holdings in Consolidated Edison were worth $48,220,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Burleson & Company LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $26,000. Destiny Wealth Partners LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $30,000. Almanack Investment Partners LLC. acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $36,000. Motco acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $37,000. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 64.95% of the company’s stock.

Consolidated Edison Stock Down 0.7 %

ED stock opened at $95.63 on Friday. Consolidated Edison, Inc. has a 12 month low of $78.10 and a 12 month high of $102.21. The firm has a market cap of $33.95 billion, a PE ratio of 20.48, a P/E/G ratio of 9.68 and a beta of 0.35. The firm has a 50 day simple moving average of $93.34 and a 200 day simple moving average of $93.01. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.14 and a quick ratio of 1.10.

Consolidated Edison (NYSE:ED – Get Rating) last released its earnings results on Thursday, February 16th. The utilities provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Consolidated Edison had a net margin of 10.59% and a return on equity of 7.79%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Equities research analysts forecast that Consolidated Edison, Inc. will post 4.86 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, February 15th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, February 14th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.79. This represents a $3.24 annualized dividend and a yield of 3.39%. Consolidated Edison’s dividend payout ratio is currently 69.38%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ED. Mizuho cut their target price on shares of Consolidated Edison from $98.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, February 17th. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $87.00 to $98.00 in a research report on Wednesday, December 14th. StockNews.com assumed coverage on shares of Consolidated Edison in a research report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of Consolidated Edison from $88.00 to $87.00 and set an “underweight” rating for the company in a research report on Thursday, February 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Consolidated Edison from $94.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 27th. Five investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.25.

About Consolidated Edison

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Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.