Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,833 shares of the utilities provider’s stock after selling 132 shares during the period. Alaska Permanent Fund Corp’s holdings in Consolidated Edison were worth $440,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $299,000. SlateStone Wealth LLC boosted its stake in shares of Consolidated Edison by 2.4% during the fourth quarter. SlateStone Wealth LLC now owns 7,146 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 165 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Consolidated Edison by 6.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 254,088 shares of the utilities provider’s stock worth $23,114,000 after purchasing an additional 14,587 shares in the last quarter. Foster & Motley Inc. acquired a new position in Consolidated Edison in the 4th quarter valued at about $365,000. Finally, Duality Advisers LP acquired a new position in Consolidated Edison in the 4th quarter valued at about $2,082,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED stock opened at $92.95 on Friday. The company has a market cap of $32.12 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 8.86 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $89.52 and a two-hundred day moving average price of $89.90. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $100.44.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. As a group, research analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is currently 46.24%.

Analyst Ratings Changes

ED has been the subject of a number of recent research reports. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price target for the company. UBS Group lowered their target price 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 boosted their price target on Consolidated Edison from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Royal Bank of Canada decreased their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.54.

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.