Metis Global Partners LLC Sells 4,030 Shares of Consolidated Edison, Inc. (NYSE:ED)

Metis Global Partners LLC lessened its stake in Consolidated Edison, Inc. (NYSE:ED) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,530 shares of the utilities provider’s stock after selling 4,030 shares during the quarter. Metis Global Partners LLC’s holdings in Consolidated Edison were worth $2,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. MGO One Seven LLC raised its position in shares of Consolidated Edison by 2.1% in the third quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock valued at $490,000 after buying an additional 119 shares in the last quarter. Advisors Capital Management LLC lifted its position in shares of Consolidated Edison by 3.8% during the 3rd quarter. Advisors Capital Management LLC now owns 3,312 shares of the utilities provider’s stock valued at $283,000 after acquiring an additional 122 shares during the period. Jeppson Wealth Management LLC grew its holdings in shares of Consolidated Edison by 1.6% during the 4th quarter. Jeppson Wealth Management LLC now owns 7,716 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 125 shares in the last quarter. Sandy Spring Bank increased its position in shares of Consolidated Edison by 11.4% in the fourth quarter. Sandy Spring Bank now owns 1,222 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 125 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its stake in Consolidated Edison by 4.9% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 2,764 shares of the utilities provider’s stock valued at $236,000 after purchasing an additional 128 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.4 %

Shares of Consolidated Edison stock opened at $96.55 on Tuesday. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.32. The stock has a fifty day moving average price of $90.41 and a 200-day moving average price of $90.21. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.99 and a quick ratio of 0.92. The firm has a market cap of $33.39 billion, a PE ratio of 18.45, a P/E/G ratio of 8.99 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.26. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.43%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.44%. Consolidated Edison’s dividend payout ratio (DPR) is currently 63.72%.

Wall Street Analyst Weigh In

ED has been the topic of several analyst reports. Barclays increased their price target on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. UBS Group lowered their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Wells Fargo & Company upped their price objective on Consolidated Edison from $93.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada decreased their target price on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, February 16th. Finally, Scotiabank dropped their target price on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a report on Monday, April 22nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.75.

Consolidated Edison 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.