9,319 Consolidated Edison Inc $ED Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in Consolidated Edison Inc (NYSE:ED) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,709 shares of the utilities provider’s stock after buying an additional 9,319 shares during the period. Illinois Municipal Retirement Fund’s holdings in Consolidated Edison were worth $14,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ED. BlackRock Inc. acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at approximately $4,609,491,000. Deutsche Bank AG bought a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $749,184,000. Legal & General Group Plc acquired a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $494,352,000. Bank of New York Mellon Corp acquired a new stake in shares of Consolidated Edison during the 2nd quarter worth approximately $231,014,000. Finally, Amundi boosted its position in shares of Consolidated Edison by 66.2% during the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock worth $438,272,000 after acquiring an additional 1,543,069 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ED shares. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Monday, October 19th. Morgan Stanley cut their target price on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, September 18th. Bank of America reduced their target price on Consolidated Edison from $105.00 to $96.00 in a report on Friday, October 2nd. Mizuho set a $108.00 price target on Consolidated Edison in a research note on Wednesday, October 7th. Finally, KeyCorp lowered their price target on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating for the company in a report on Tuesday, October 13th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $109.74.

Consolidated Edison Stock Down 0.1%

Shares of NYSE ED opened at $119.14 on Thursday. The company has a market cap of $44.22 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 4.13 and a beta of 0.23. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $122.75. The stock has a 50-day moving average price of $109.61 and a two-hundred day moving average price of $109.58.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.75 billion. Consolidated Edison had a net margin of 12.70% and a return on equity of 8.58%. During the same period last year, the company posted $1.90 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.0%. Consolidated Edison’s dividend payout ratio (DPR) is currently 56.80%.

Consolidated Edison Profile

Consolidated Edison, Inc. is an energy holding company whose principal business is delivering electricity, natural gas and steam through regulated utility subsidiaries. Its services include generating, transmitting and distributing energy to residential, commercial and industrial customers. Its largest subsidiary, Consolidated Edison Company of New York, serves customers in New York City and Westchester County. Orange and Rockland Utilities serves parts of southeastern New York and northern New Jersey.