Illinois Municipal Retirement Fund Purchases 9,319 Shares of Consolidated Edison Inc $ED

Illinois Municipal Retirement Fund increased its position in Consolidated Edison Inc (NYSE:ED) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,709 shares of the utilities provider’s stock after purchasing an additional 9,319 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Consolidated Edison were worth $14,484,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Aberdeen Wealth Management LLC acquired a new position in Consolidated Edison during the second quarter worth approximately $27,000. Activest Wealth Management lifted its position in shares of Consolidated Edison by 77.3% in the third quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock valued at $26,000 after buying an additional 109 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Consolidated Edison in the second quarter valued at approximately $30,000. GoalVest Advisory LLC lifted its position in shares of Consolidated Edison by 80.0% in the third quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Consolidated Edison by 155.6% during the 3rd quarter. Westside Investment Management Inc. now owns 317 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 193 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.1%

Shares of NYSE:ED opened at $119.14 on Thursday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $122.75. The stock has a market cap of $44.22 billion, a PE ratio of 19.06, a P/E/G ratio of 4.13 and a beta of 0.23. The business has a 50 day moving average of $109.61 and a 200-day moving average of $109.58. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.02.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.75 billion. Consolidated Edison had a return on equity of 8.58% and a net margin of 12.70%. During the same quarter last year, the company earned $1.90 earnings per share. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 3.0%. Consolidated Edison’s dividend payout ratio (DPR) is presently 56.80%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ED. KeyCorp decreased their target price on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. The Goldman Sachs Group cut their price target on Consolidated Edison from $106.00 to $102.00 in a report on Thursday, October 15th. Scotiabank reduced their price objective on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 30th. Barclays upped their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, November 6th. Finally, HSBC began coverage on shares of Consolidated Edison in a report on Thursday, October 22nd. They issued a “hold” rating and a $104.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $109.74.

About Consolidated Edison

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.