Louisiana State Employees Retirement System Has $2.03 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Louisiana State Employees Retirement System decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,500 shares of the utilities provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Consolidated Edison were worth $2,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Hennion & Walsh Asset Management Inc. lifted its holdings in Consolidated Edison by 32.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,673 shares of the utilities provider’s stock worth $1,060,000 after purchasing an additional 2,868 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Consolidated Edison by 5.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 227,728 shares of the utilities provider’s stock worth $20,680,000 after buying an additional 11,972 shares during the last quarter. Monument Capital Management bought a new stake in shares of Consolidated Edison during the 1st quarter worth $488,000. Norden Group LLC acquired a new position in Consolidated Edison in the 1st quarter valued at $1,074,000. Finally, Kovack Advisors Inc. raised its holdings in Consolidated Edison by 16.6% in the 1st quarter. Kovack Advisors Inc. now owns 6,264 shares of the utilities provider’s stock worth $569,000 after acquiring an additional 892 shares during the period. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of several research analyst reports. UBS Group boosted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays upped their price target on Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Guggenheim raised their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price for the company. Finally, Bank of America raised their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Stock Down 1.8 %

Shares of ED opened at $102.91 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $103.49 and a two-hundred day moving average price of $97.47. The stock has a market cap of $35.59 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 3.57 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.61 EPS. Equities analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is 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.