Illinois Municipal Retirement Fund Sells 20,192 Shares of Consolidated Edison Inc $ED

Illinois Municipal Retirement Fund lessened its stake in shares of Consolidated Edison Inc (NYSE:ED) by 9.6% in the first quarter, Holdings Channel reports. The institutional investor owned 190,378 shares of the utilities provider’s stock after selling 20,192 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Consolidated Edison were worth $21,547,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp boosted its position in shares of Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after acquiring an additional 854,868 shares during the period. Lazard Asset Management LLC grew its stake in Consolidated Edison by 3.4% during the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock valued at $612,367,000 after acquiring an additional 205,041 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Consolidated Edison by 11.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock valued at $516,549,000 after acquiring an additional 514,178 shares in the last quarter. Finally, Norges Bank bought a new stake in Consolidated Edison during the 4th quarter worth approximately $489,806,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ED shares. Mizuho reiterated a “neutral” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. KeyCorp boosted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research report on Tuesday, April 21st. Evercore set a $116.00 price target on shares of Consolidated Edison in a report on Monday, May 11th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Trading Down 1.5%

Shares of Consolidated Edison stock opened at $110.27 on Thursday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The firm has a market cap of $40.64 billion, a PE ratio of 18.56, a PEG ratio of 2.85 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The company has a 50 day simple moving average of $108.25 and a two-hundred day simple moving average of $108.47.

Consolidated Edison 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.