Kentucky Retirement Systems Insurance Trust Fund Has $1.07 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,239 shares of the utilities provider’s stock after selling 916 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Consolidated Edison were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison during the 3rd quarter worth $27,000. Beacon Capital Management LLC increased its holdings in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth about $30,000. Pathway Financial Advisers LLC bought a new position in shares of Consolidated Edison during the 1st quarter valued at about $33,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at approximately $33,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock opened at $96.44 on Monday. The company has a fifty day moving average price of $102.68 and a two-hundred day moving average price of $98.04. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The stock has a market cap of $33.41 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.24 and a beta of 0.36. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. As a group, equities analysts predict that Consolidated Edison, Inc. will post 5.33 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.44%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analyst Ratings Changes

Several brokerages have commented on ED. UBS Group lifted their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Bank of America boosted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their target price on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Guggenheim boosted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $98.35.

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.