Metis Global Partners LLC Buys 5,201 Shares of Consolidated Edison Inc $ED

Metis Global Partners LLC grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 16.4% in the third quarter, Holdings Channel reports. The institutional investor owned 37,002 shares of the utilities provider’s stock after purchasing an additional 5,201 shares during the period. Metis Global Partners LLC’s holdings in Consolidated Edison were worth $3,719,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ED. Salomon & Ludwin LLC increased its stake in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares during the period. Bogart Wealth LLC grew its holdings in shares of Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $38,000. True Wealth Design LLC increased its position in shares of Consolidated Edison by 392.1% during the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares during the period. Finally, Webster Bank N. A. raised its stake in shares of Consolidated Edison by 67.8% in the third quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 200 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 1.7%

Shares of Consolidated Edison stock opened at $113.59 on Friday. Consolidated Edison Inc has a 12-month low of $94.50 and a 12-month high of $114.87. The stock has a market capitalization of $41.00 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.04 and a beta of 0.38. The company has a 50-day simple moving average of $102.16 and a 200 day simple moving average of $100.62. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio is presently 62.06%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. TD Cowen initiated coverage on shares of Consolidated Edison in a report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective for the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research report on Friday, January 23rd. KeyCorp dropped their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Finally, Morgan Stanley restated an “underweight” rating and set a $96.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $104.20.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Consolidated Edison Company Profile

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.