Kentucky Retirement Systems Insurance Trust Fund Increases Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,372 shares of the utilities provider’s stock after buying an additional 133 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Consolidated Edison were worth $925,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $27,000. AlphaMark Advisors LLC purchased a new stake in Consolidated Edison during the 4th quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison during the 3rd quarter worth approximately $30,000. CGC Financial Services LLC increased its holdings in Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 213 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Consolidated Edison during the 3rd quarter worth approximately $55,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ED. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays decreased their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus target price of $100.70.

Consolidated Edison Trading Up 0.8 %

NYSE:ED opened at $95.70 on Wednesday. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a market capitalization of $33.15 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.04 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business has a 50 day simple moving average of $91.86 and a 200 day simple moving average of $98.05.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.55%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 64.03%.

Consolidated Edison Company 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.