Kentucky Retirement Systems Has $2.12 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Kentucky Retirement Systems lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,765 shares of the utilities provider’s stock after selling 328 shares during the period. Kentucky Retirement Systems’ holdings in Consolidated Edison were worth $2,121,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Consolidated Edison during the 3rd quarter worth about $27,000. AlphaMark Advisors LLC acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth about $30,000. CGC Financial Services LLC lifted its position in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Consolidated Edison in the 3rd quarter valued at approximately $55,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. Mizuho upped their price target on 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 Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Barclays cut their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.70.

Consolidated Edison Trading Up 2.6 %

ED stock opened at $98.27 on Friday. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The firm has a market cap of $34.04 billion, a P/E ratio of 18.75, a P/E/G ratio of 3.05 and a beta of 0.39. The business’s 50 day moving average is $92.09 and its 200-day moving average is $97.98. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. Consolidated Edison’s dividend payout ratio is 64.89%.

Consolidated Edison 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.