Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,061 shares of the utilities provider’s stock after selling 156 shares during the period. Kentucky Retirement Systems’ holdings in Consolidated Edison were worth $2,330,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Brown Advisory Inc. grew its position in Consolidated Edison by 1.8% in the 4th quarter. Brown Advisory Inc. now owns 19,019 shares of the utilities provider’s stock worth $1,730,000 after purchasing an additional 331 shares during the last quarter. UBS Group AG increased its position in Consolidated Edison by 14.7% in the 4th quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after acquiring an additional 62,519 shares during the period. Wells Fargo & Company MN raised its stake in Consolidated Edison by 10.7% during the 4th quarter. Wells Fargo & Company MN now owns 281,514 shares of the utilities provider’s stock valued at $25,609,000 after acquiring an additional 27,242 shares in the last quarter. Clearbridge Investments LLC boosted its position in Consolidated Edison by 26.9% during the 4th quarter. Clearbridge Investments LLC now owns 28,166 shares of the utilities provider’s stock worth $2,562,000 after acquiring an additional 5,973 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of Consolidated Edison by 15.4% in the fourth quarter. D.A. Davidson & CO. now owns 8,147 shares of the utilities provider’s stock worth $741,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.2 %

Shares of NYSE ED opened at $103.35 on Friday. The business has a fifty day simple moving average of $100.08 and a 200-day simple moving average of $94.62. The company has a market cap of $35.74 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company 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 last year, the company posted $0.61 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. Consolidated Edison’s payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ED shares. Argus upgraded shares of Consolidated Edison to a “strong-buy” rating in a research report on Friday, June 7th. 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. 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 report on Monday, August 5th. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Barclays boosted their price objective on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $93.42.

About Consolidated Edison

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.