California Public Employees Retirement System Sells 139,370 Shares of Consolidated Edison Inc $ED

California Public Employees Retirement System trimmed its position in Consolidated Edison Inc (NYSE:ED) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 822,143 shares of the utilities provider’s stock after selling 139,370 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Consolidated Edison worth $93,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Basepoint Wealth LLC bought a new stake in Consolidated Edison in the fourth quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth $26,000. Aventura Private Wealth LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth $27,000. Westfuller Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth $27,000. Finally, Sachetta LLC boosted its position in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ED. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. Weiss Ratings upgraded Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. KeyCorp boosted their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Barclays lowered their price target on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Finally, Evercore set a $116.00 price target on Consolidated Edison in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $112.40 on Monday. The company has a fifty day moving average price of $108.49 and a 200 day moving average price of $108.65. The firm has a market cap of $41.42 billion, a PE ratio of 18.92, a PEG ratio of 2.86 and a beta of 0.27. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.