20,900 Shares in Consolidated Edison, Inc. (NYSE:ED) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,900 shares of the utilities provider’s stock, valued at approximately $1,901,000.

Other large investors have also made changes to their positions in the company. Diversified Trust Co lifted its stake in Consolidated Edison by 140.8% in the 4th quarter. Diversified Trust Co now owns 36,950 shares of the utilities provider’s stock valued at $3,361,000 after purchasing an additional 21,604 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Consolidated Edison by 169.9% in the 4th quarter. Pacer Advisors Inc. now owns 60,314 shares of the utilities provider’s stock valued at $5,487,000 after purchasing an additional 37,971 shares during the last quarter. Blackhawk Capital Partners LLC. bought a new position in Consolidated Edison in the 4th quarter valued at approximately $1,551,000. Mariner LLC lifted its stake in Consolidated Edison by 24.9% in the 3rd quarter. Mariner LLC now owns 91,702 shares of the utilities provider’s stock valued at $7,844,000 after purchasing an additional 18,270 shares during the last quarter. Finally, Comerica Bank bought a new position in Consolidated Edison in the 3rd quarter valued at approximately $8,014,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $90.87 on Friday. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92. The firm has a fifty day simple moving average of $88.91 and a 200 day simple moving average of $89.55. The company has a market capitalization of $31.40 billion, a PE ratio of 12.66, a P/E/G ratio of 8.24 and a beta of 0.35. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm earned $0.81 earnings per share. Consolidated Edison’s quarterly revenue was down 14.6% on a year-over-year basis. On average, sell-side analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.65%. Consolidated Edison’s payout ratio is 46.24%.

Analyst Ratings Changes

Several brokerages recently commented on ED. Scotiabank increased their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research note on Tuesday, February 20th. UBS Group dropped their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Barclays raised their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th. Finally, Royal Bank of Canada dropped their price target on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $87.96.

About Consolidated Edison

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.