Public Employees Retirement Association of Colorado boosted its position in Consolidated Edison, Inc. (NYSE:ED) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 55,850 shares of the utilities provider’s stock after buying an additional 3,738 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Consolidated Edison were worth $4,744,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of ED. WFG Advisors LP raised its position in shares of Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after buying an additional 214 shares in the last quarter. AllSquare Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $113,000. Asset Dedication LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $183,000. Round Table Services LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $200,000. Finally, Tower Bridge Advisors bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $208,000. Hedge funds and other institutional investors own 56.02% of the company’s stock.
ED has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Bank of America began coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective on the stock. Guggenheim reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Consolidated Edison in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of Consolidated Edison in a research note on Friday, January 12th. They issued an “underweight” rating and a $78.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $81.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $2.86 annualized dividend and a dividend yield of 3.72%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s payout ratio is currently 69.00%.
About Consolidated Edison
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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