Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,779 shares of the utilities provider’s stock after selling 1,338 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Consolidated Edison were worth $2,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cadence Capital Management LLC raised its stake in Consolidated Edison by 3.3% during the 4th quarter. Cadence Capital Management LLC now owns 3,396 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 109 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Consolidated Edison by 3.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 3,470 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 110 shares in the last quarter. Glenview State Bank Trust DEPT. raised its stake in Consolidated Edison by 4.1% during the 3rd quarter. Glenview State Bank Trust DEPT. now owns 2,935 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 115 shares in the last quarter. Delta Asset Management LLC TN raised its stake in Consolidated Edison by 0.8% during the 4th quarter. Delta Asset Management LLC TN now owns 14,038 shares of the utilities provider’s stock valued at $1,270,000 after acquiring an additional 116 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in Consolidated Edison by 10.0% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,295 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

ED opened at $94.30 on Friday. Consolidated Edison, Inc. has a one year low of $78.18 and a one year high of $95.10. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.52 and a current ratio of 0.58. The stock’s fifty day moving average is $91.02 and its 200-day moving average is $89.76. The company has a market capitalization of $31.13 billion, a PE ratio of 21.93, a P/E/G ratio of 10.43 and a beta of 0.05.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 19th will be paid a $0.765 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.74. Consolidated Edison’s payout ratio is currently 68.52%.

Several analysts have weighed in on ED shares. Morgan Stanley lifted their target price on Consolidated Edison from $88.00 to $91.00 and gave the company an “underweight” rating in a research note on Wednesday, January 22nd. UBS Group cut their target price on Consolidated Edison from $98.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Barclays downgraded Consolidated Edison from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $95.00 to $88.00 in a research note on Wednesday, November 27th. Citigroup cut their target price on Consolidated Edison from $94.00 to $89.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, KeyCorp cut their target price on Consolidated Edison from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $92.44.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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

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