New York State Teachers Retirement System Sells 6,911 Shares of Consolidated Edison, Inc. (NYSE:ED)

New York State Teachers Retirement System reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 335,645 shares of the utilities provider’s stock after selling 6,911 shares during the period. New York State Teachers Retirement System owned 0.10% of Consolidated Edison worth $30,013,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ED. Norges Bank acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $243,511,000. Charles Schwab Investment Management Inc. increased its position in Consolidated Edison by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,032,385 shares of the utilities provider’s stock worth $184,886,000 after buying an additional 47,936 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Consolidated Edison by 6.6% during the first quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after buying an additional 123,654 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Consolidated Edison by 11.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,386,743 shares of the utilities provider’s stock valued at $126,042,000 after acquiring an additional 139,370 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Consolidated Edison by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock valued at $102,484,000 after acquiring an additional 6,176 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 0.1 %

Shares of ED opened at $100.60 on Friday. The stock’s 50-day moving average price is $94.83 and its two-hundred day moving average price is $92.52. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The company has a market capitalization of $34.79 billion, a PE ratio of 19.31, a PEG ratio of 2.56 and a beta of 0.34. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ED. Guggenheim boosted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Scotiabank boosted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Bank of America upped their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, UBS Group lifted their price target on Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.65.

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.