Consolidated Edison Inc $ED Stock Position Cut by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,329,174 shares of the utilities provider’s stock after selling 234,525 shares during the period. California Public Employees Retirement System owned approximately 0.37% of Consolidated Edison worth $133,383,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ED. Financial Network Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Capital Advisors Ltd. LLC boosted its stake in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after buying an additional 369 shares during the period. Finally, HFM Investment Advisors LLC bought a new position in Consolidated Edison during the first quarter valued at about $52,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on ED shares. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 1st. Scotiabank increased their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Evercore ISI began coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Finally, Barclays dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $104.58.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $96.53 on Monday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm’s 50 day simple moving average is $99.59 and its 200-day simple moving average is $100.37. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The company has a market cap of $34.84 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.80 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the prior year, the firm posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s payout ratio is currently 59.44%.

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.