Consolidated Edison Inc $ED Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in Consolidated Edison Inc (NYSE:ED) by 82.8% during the 3rd quarter, Holdings Channel reports. The fund owned 255,823 shares of the utilities provider’s stock after acquiring an additional 115,881 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Consolidated Edison were worth $25,715,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Consolidated Edison by 4.5% in 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 purchasing an additional 1,923,717 shares in the last quarter. Geode Capital Management LLC increased its holdings in Consolidated Edison by 6.1% in 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 buying an additional 566,358 shares during the last quarter. Norges Bank acquired a new stake in Consolidated Edison in the second quarter valued at $462,218,000. ATLAS Infrastructure Partners UK Ltd. lifted its holdings in Consolidated Edison by 4.8% during the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after buying an additional 110,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Consolidated Edison by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock worth $238,455,000 after acquiring an additional 104,643 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.2%

NYSE ED opened at $109.69 on Thursday. The firm’s fifty day moving average is $101.51 and its two-hundred day moving average is $100.45. Consolidated Edison Inc has a one year low of $93.52 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The firm has a market cap of $39.59 billion, a PE ratio of 19.18, a P/E/G ratio of 2.96 and a beta of 0.38.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.2%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Wall Street Analysts Forecast Growth

ED has been the topic of several research analyst reports. Barclays cut their target price on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, January 22nd. UBS Group raised their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. lowered their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. KeyCorp cut their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Finally, Morgan Stanley restated an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $104.20.

Insider Buying and Selling

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

About Consolidated Edison

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.