Metis Global Partners LLC Has $2.14 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Metis Global Partners LLC lessened its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ED. Valley Brook Capital Group Inc. lifted its position in shares of Consolidated Edison by 7.1% in the fourth quarter. Valley Brook Capital Group Inc. now owns 3,750 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 250 shares in the last quarter. TCG Advisory Services LLC raised its holdings in Consolidated Edison by 10.9% in the 4th quarter. TCG Advisory Services LLC now owns 10,075 shares of the utilities provider’s stock valued at $916,000 after acquiring an additional 993 shares in the last quarter. Forte Capital LLC ADV increased its stake in shares of Consolidated Edison by 7.0% in the 4th quarter. Forte Capital LLC ADV now owns 20,328 shares of the utilities provider’s stock valued at $1,849,000 after purchasing an additional 1,322 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Consolidated Edison in the fourth quarter worth about $280,000. Finally, Summit Global Investments acquired a new stake in Consolidated Edison in the fourth quarter valued at $1,540,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.4 %

ED opened at $96.55 on Tuesday. The company has a market capitalization of $33.39 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 8.99 and a beta of 0.34. The firm has a 50-day simple moving average of $90.41 and a two-hundred day simple moving average of $90.21. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $100.32.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $2.15 earnings per share 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 business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the business posted $1.83 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, May 14th. Consolidated Edison’s dividend payout ratio is presently 63.72%.

Analyst Ratings Changes

Several brokerages recently issued reports on ED. UBS Group cut their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Royal Bank of Canada cut their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company upped their price objective on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday. Barclays lifted their target price on Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, Scotiabank lowered their price target on Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating on the stock in a report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.