Public Employees Retirement System of Ohio Increases Position in Consolidated Edison, Inc. (NYSE:ED)

Public Employees Retirement System of Ohio lifted its holdings in Consolidated Edison, Inc. (NYSE:ED) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,692 shares of the utilities provider’s stock after purchasing an additional 23,201 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Consolidated Edison were worth $11,522,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC grew its stake in Consolidated Edison by 2,195.8% during the fourth quarter. Millennium Management LLC now owns 1,142,312 shares of the utilities provider’s stock worth $87,341,000 after buying an additional 1,092,555 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Consolidated Edison by 4.2% in the 4th quarter. Raymond James & Associates now owns 165,079 shares of the utilities provider’s stock valued at $12,622,000 after purchasing an additional 6,653 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Consolidated Edison by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock valued at $1,821,799,000 after purchasing an additional 356,339 shares in the last quarter. Paloma Partners Management Co boosted its stake in shares of Consolidated Edison by 581.8% in the 3rd quarter. Paloma Partners Management Co now owns 10,035 shares of the utilities provider’s stock valued at $765,000 after purchasing an additional 12,118 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Consolidated Edison by 10.6% in the 3rd quarter. Man Group plc now owns 177,540 shares of the utilities provider’s stock valued at $13,528,000 after purchasing an additional 17,038 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Consolidated Edison from $77.00 to $78.00 and gave the company an “underperform” rating in a research note on Monday, February 25th. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Morgan Stanley raised their price objective on shares of Consolidated Edison from $78.00 to $81.00 and gave the company an “underweight” rating in a report on Tuesday, February 12th. Finally, Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price objective for the company. in a report on Tuesday, February 12th. Five investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $77.34.

Consolidated Edison stock traded down $0.29 during mid-day trading on Friday, hitting $83.61. 1,417,055 shares of the stock were exchanged, compared to its average volume of 1,403,713. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.62. Consolidated Edison, Inc. has a 12 month low of $71.12 and a 12 month high of $85.87. The firm has a market cap of $27.34 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 9.59 and a beta of 0.12.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 21st. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.89 billion. Consolidated Edison had a net margin of 11.20% and a return on equity of 8.42%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 EPS. As a group, equities research analysts predict that Consolidated Edison, Inc. will post 4.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is 68.52%.

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Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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