New York State Teachers Retirement System Has $26.32 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

New York State Teachers Retirement System trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,933 shares of the utilities provider’s stock after selling 16,925 shares during the period. New York State Teachers Retirement System’s holdings in Consolidated Edison were worth $26,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ED. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the 3rd quarter valued at about $27,000. AlphaMark Advisors LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter valued at approximately $30,000. CGC Financial Services LLC lifted its holdings in shares of Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $55,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on ED shares. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Barclays decreased their price objective on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, January 27th. Finally, Morgan Stanley cut their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $100.00.

Consolidated Edison Stock Down 0.7 %

ED opened at $95.01 on Friday. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The company has a 50 day moving average of $91.84 and a 200 day moving average of $98.13. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market cap of $32.91 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.40 annualized dividend and a yield of 3.58%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

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.