Consolidated Edison, Inc. (ED) Holdings Increased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 801,800 shares of the utilities provider’s stock after purchasing an additional 25,300 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of Consolidated Edison worth $64,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. BlackRock Inc. raised its position in shares of Consolidated Edison by 1.8% during the 2nd quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock valued at $1,983,672,000 after buying an additional 439,840 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after buying an additional 516,860 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Consolidated Edison by 38.2% during the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after buying an additional 1,121,200 shares in the last quarter. Legal & General Group Plc raised its position in shares of Consolidated Edison by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 2,785,937 shares of the utilities provider’s stock valued at $225,186,000 after buying an additional 124,772 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of Consolidated Edison by 1.1% during the 2nd quarter. Federated Investors Inc. PA now owns 2,716,781 shares of the utilities provider’s stock valued at $219,570,000 after buying an additional 29,358 shares in the last quarter. Institutional investors and hedge funds own 55.69% of the company’s stock.

Several analysts have recently weighed in on ED shares. Zacks Investment Research cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group restated a “hold” rating and set a $83.50 price objective on shares of Consolidated Edison in a research report on Thursday, August 31st. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Morgan Stanley lifted their target price on shares of Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Finally, Bank of America assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Consolidated Edison has a consensus rating of “Hold” and an average price target of $80.32.

Consolidated Edison, Inc. (NYSE ED) opened at $88.48 on Tuesday. The company has a market cap of $27,540.31, a price-to-earnings ratio of 22.15, a P/E/G ratio of 7.24 and a beta of 0.10. Consolidated Edison, Inc. has a 52-week low of $68.85 and a 52-week high of $89.58. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same period last year, the business earned $1.51 EPS. analysts forecast that Consolidated Edison, Inc. will post 4.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.00%.

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Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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

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