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

New York State Teachers Retirement System cut its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 owned about 0.09% of Consolidated Edison worth $26,317,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Creative Planning raised its holdings in Consolidated Edison by 7.9% in the 3rd quarter. Creative Planning now owns 98,928 shares of the utilities provider’s stock valued at $10,301,000 after buying an additional 7,269 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Consolidated Edison during the third quarter valued at $115,000. Aaron Wealth Advisors LLC lifted its holdings in shares of Consolidated Edison by 5.5% during the third quarter. Aaron Wealth Advisors LLC now owns 6,814 shares of the utilities provider’s stock worth $710,000 after purchasing an additional 358 shares during the period. Blue Trust Inc. grew its stake in shares of Consolidated Edison by 70.8% in the third quarter. Blue Trust Inc. now owns 4,695 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Consolidated Edison by 20.1% in the third quarter. Raymond James & Associates now owns 190,145 shares of the utilities provider’s stock valued at $19,800,000 after purchasing an additional 31,761 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.7 %

ED opened at $95.01 on Friday. The company has a fifty day moving average price of $91.84 and a two-hundred day moving average price of $98.13. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a market cap of $32.91 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 3.04 and a beta of 0.39. 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 Increases Dividend

The company also recently declared 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 an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 62.52%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ED. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Barclays lowered their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average target price of $100.00.

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.