Consolidated Edison Inc $ED Holdings Reduced by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in Consolidated Edison Inc (NYSE:ED) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 637,065 shares of the utilities provider’s stock after selling 15,329 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Consolidated Edison worth $72,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ED. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter worth $26,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth $27,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Finally, Dorato Capital Management bought a new position in shares of Consolidated Edison in the fourth quarter worth $28,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays lowered their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a report on Monday, May 11th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.47.

Consolidated Edison Stock Down 2.4%

NYSE ED opened at $109.59 on Friday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a market capitalization of $40.39 billion, a P/E ratio of 18.45, a PEG ratio of 2.91 and a beta of 0.27. The company’s 50 day simple moving average is $109.38 and its 200 day simple moving average is $109.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.