Metis Global Partners LLC Purchases 1,628 Shares of Consolidated Edison, Inc. (NYSE:ED)

Metis Global Partners LLC raised its position in Consolidated Edison, Inc. (NYSE:ED) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,534 shares of the utilities provider’s stock after acquiring an additional 1,628 shares during the quarter. Metis Global Partners LLC’s holdings in Consolidated Edison were worth $2,635,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the third quarter valued at about $27,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the fourth quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter valued at about $30,000. Centricity Wealth Management LLC bought a new position in Consolidated Edison in the fourth quarter valued at about $39,000. Finally, CGC Financial Services LLC lifted its holdings in Consolidated Edison by 64.0% in the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 213 shares during the period. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group raised their price objective on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley decreased their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Mizuho raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Performance

NYSE:ED opened at $101.45 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The stock has a 50-day moving average price of $93.13 and a 200 day moving average price of $97.95. The stock has a market capitalization of $35.17 billion, a P/E ratio of 19.36, a P/E/G ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. Equities research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

About Consolidated Edison

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.