Utah Retirement Systems held its position in Consolidated Edison Inc. (NYSE:ED) during the third quarter, Holdings Channel reports. The fund owned 55,820 shares of the company’s stock at the end of the third quarter. Utah Retirement Systems’ holdings in Consolidated Edison were worth $4,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC raised its position in Consolidated Edison by 380.2% in the second quarter. Tortoise Investment Management LLC now owns 1,263 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in Consolidated Edison during the second quarter valued at $105,000. Coconut Grove Bank raised its position in Consolidated Edison by 51.7% in the second quarter. Coconut Grove Bank now owns 1,312 shares of the company’s stock valued at $105,000 after buying an additional 447 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Consolidated Edison by 62.5% in the second quarter. TCI Wealth Advisors Inc. now owns 1,347 shares of the company’s stock valued at $108,000 after buying an additional 518 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its position in Consolidated Edison by 68.0% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,050 shares of the company’s stock valued at $119,000 after buying an additional 425 shares during the last quarter. 53.11% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

Shares of Consolidated Edison Inc. (NYSE:ED) traded down 3.96% during mid-day trading on Wednesday, reaching $69.77. The company had a trading volume of 3,845,344 shares. The firm’s 50-day moving average is $72.39 and its 200 day moving average is $75.60. The company has a market capitalization of $21.26 billion and a price-to-earnings ratio of 17.19. Consolidated Edison Inc. has a 12 month low of $60.30 and a 12 month high of $81.88.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 16th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.84%. Consolidated Edison’s dividend payout ratio (DPR) is 66.34%.

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Several research analysts recently weighed in on ED shares. Vetr raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $77.14 price target on the stock in a research report on Wednesday, September 14th. Jefferies Group raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday, September 14th. Barclays PLC dropped their target price on Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 21st. Evercore ISI raised Consolidated Edison from a “sell” rating to a “hold” rating and set a $76.00 target price on the stock in a research report on Monday, September 26th. Finally, Deutsche Bank AG raised Consolidated Edison from a “sell” rating to a “hold” rating and upped their target price for the stock from $73.17 to $74.00 in a research report on Monday, October 24th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Consolidated Edison has an average rating of “Hold” and an average price target of $74.36.

Consolidated Edison Company Profile

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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

5 Day Chart for NYSE:ED

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