California Public Employees Retirement System Has $93.05 Million Holdings in Consolidated Edison Inc $ED

California Public Employees Retirement System lessened its holdings in Consolidated Edison Inc (NYSE:ED) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,143 shares of the utilities provider’s stock after selling 139,370 shares during the quarter. California Public Employees Retirement System’s holdings in Consolidated Edison were worth $93,050,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC boosted its stake in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Empowered Funds LLC increased its position in shares of Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after acquiring an additional 2,659 shares during the last quarter. Woodline Partners LP increased its position in shares of Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Consolidated Edison during the second quarter worth about $3,256,000. Finally, Baird Financial Group Inc. raised its holdings in Consolidated Edison by 2.1% during the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ED. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday, June 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Stock Performance

ED opened at $112.40 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The business has a 50 day moving average of $108.49 and a 200-day moving average of $108.65. The stock has a market cap of $41.42 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.86 and a beta of 0.27.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) 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.