California Public Employees Retirement System Has $133.38 Million Position in Consolidated Edison Inc $ED

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

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after acquiring an additional 1,923,717 shares in the last quarter. Geode Capital Management LLC boosted its position in Consolidated Edison by 6.1% during the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after purchasing an additional 566,358 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after purchasing an additional 48,323 shares in the last quarter. Norges Bank purchased a new position in Consolidated Edison in the second quarter valued at about $462,218,000. Finally, JPMorgan Chase & Co. increased its position in Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3%

NYSE:ED opened at $96.53 on Monday. The company’s 50 day moving average is $99.59 and its 200-day moving average is $100.37. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market cap of $34.84 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.80 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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 given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Analysts Set New Price Targets

ED has been the subject of several research reports. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. KeyCorp lifted their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Barclays reduced their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. Finally, Evercore ISI started coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and a consensus price target of $104.58.

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.