Texas Permanent School Fund Corp Has $5.10 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Texas Permanent School Fund Corp lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,066 shares of the utilities provider’s stock after selling 14,298 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Consolidated Edison were worth $5,103,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC boosted its holdings in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Raleigh Capital Management Inc. bought a new stake in Consolidated Edison during the 4th quarter valued at approximately $29,000. Tidemark LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at approximately $29,000. Pathway Financial Advisers LLC bought a new position in Consolidated Edison in the 1st quarter worth approximately $33,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $33,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ED shares. UBS Group raised their price objective on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Bank of America boosted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays increased their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.65.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $103.38 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The business’s fifty day moving average price is $98.42 and its two-hundred day moving average price is $93.92. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $105.99. The stock has a market capitalization of $35.75 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, analysts predict that Consolidated Edison, Inc. will post 5.31 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Consolidated Edison Profile

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.