California State Teachers Retirement System Has $72.10 Million Stock Position in Consolidated Edison Inc $ED

California State Teachers Retirement System lowered its stake in Consolidated Edison Inc (NYSE:ED) by 2.3% during the first quarter, HoldingsChannel reports. The firm owned 637,065 shares of the utilities provider’s stock after selling 15,329 shares during the period. California State Teachers Retirement System’s holdings in Consolidated Edison were worth $72,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Basepoint Wealth LLC acquired a new position in shares of Consolidated Edison in the fourth quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison during the third quarter valued at approximately $26,000. Westfuller Advisors LLC acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $27,000. Sachetta LLC lifted its position in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 102 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 2.4%

ED opened at $109.59 on Friday. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The business has a 50-day moving average of $109.38 and a 200-day moving average of $109.42. 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 market capitalization of $40.39 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.91 and a beta of 0.27.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Analysts Set New Price Targets

Several research firms have weighed in on ED. KeyCorp lowered their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Evercore set a $116.00 target price on Consolidated Edison in a report on Monday, May 11th. Mizuho set a $114.00 target price on Consolidated Edison in a research report on Monday. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $108.47.

Consolidated Edison Company 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.