Maryland State Retirement & Pension System Sells 14,775 Shares of Consolidated Edison Inc $ED

Maryland State Retirement & Pension System trimmed its holdings in Consolidated Edison Inc (NYSE:ED) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 343,781 shares of the utilities provider’s stock after selling 14,775 shares during the quarter. Consolidated Edison makes up about 0.8% of Maryland State Retirement & Pension System’s portfolio, making the stock its 24th biggest position. Maryland State Retirement & Pension System’s holdings in Consolidated Edison were worth $38,909,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ED. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the third quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter worth about $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter worth about $27,000. Westfuller Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter valued at about $27,000. Finally, Sachetta LLC lifted its holdings in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3%

NYSE:ED opened at $112.11 on Wednesday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market cap of $41.31 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.84 and a beta of 0.27. The firm has a 50-day simple moving average of $108.18 and a 200-day simple moving average of $108.39.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.76%.

Analyst Upgrades and Downgrades

ED has been the subject of several research reports. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research note on Tuesday, April 21st. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Argus set a $112.00 target price on Consolidated Edison in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $108.07.

About Consolidated Edison

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.