Consolidated Edison Inc $ED Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Consolidated Edison Inc (NYSE:ED) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 341,528 shares of the utilities provider’s stock after selling 27,830 shares during the period. Maryland State Retirement & Pension System’s holdings in Consolidated Edison were worth $34,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Jacobi Capital Management LLC lifted its position in shares of Consolidated Edison by 4.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 4,528 shares of the utilities provider’s stock valued at $463,000 after acquiring an additional 208 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Consolidated Edison in the 3rd quarter worth approximately $3,334,000. First Command Advisory Services Inc. grew its position in Consolidated Edison by 258.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 3,223 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 2,325 shares in the last quarter. Silver Grove Financial Group Inc. grew its position in Consolidated Edison by 24.9% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 512 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 102 shares in the last quarter. Finally, Davis Investment Partners LLC grew its position in Consolidated Edison by 45.3% during the 3rd quarter. Davis Investment Partners LLC now owns 7,478 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 2,333 shares in the last quarter. 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. The firm has a fifty day moving average of $109.61 and a two-hundred day moving average of $109.58. The firm has a market capitalization of $44.22 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 4.13 and a beta of 0.23. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $122.75. 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 posted its quarterly earnings results on Thursday, November 5th. The utilities provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.03 by $0.04. Consolidated Edison had a net margin of 12.70% and a return on equity of 8.58%. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the company posted $1.90 EPS. On average, equities analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ED shares. Jefferies Financial Group reissued a “hold” rating and set a $105.00 target price (down from $121.00) on shares of Consolidated Edison in a research note on Tuesday, October 6th. Wells Fargo & Company raised their target price on Consolidated Edison from $118.00 to $134.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Barclays lifted their price target on Consolidated Edison from $106.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, November 6th. Royal Bank Of Canada lowered their price target on Consolidated Edison from $110.00 to $109.00 in a report on Monday, October 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $109.74.

Consolidated Edison Company Profile

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.