Consolidated Edison Inc $ED Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 16.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 37,002 shares of the utilities provider’s stock after acquiring an additional 5,201 shares during the period. Metis Global Partners LLC’s holdings in Consolidated Edison were worth $3,719,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ED. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Consolidated Edison by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock worth $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after buying an additional 29,606 shares during the last quarter. Bryce Point Capital LLC bought a new position in Consolidated Edison during the third quarter valued at approximately $556,000. Atlantic Union Bankshares Corp raised its position in Consolidated Edison by 46.7% during the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 1,183 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. lifted its stake in Consolidated Edison by 4.8% in the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after acquiring an additional 110,666 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ED shares. JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. TD Cowen started coverage on shares of Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. KeyCorp decreased their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Barclays lowered their price objective on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $104.20.

Insider Activity at Consolidated Edison

In other 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 value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Consolidated Edison Trading Up 1.7%

Shares of NYSE:ED opened at $113.59 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The stock’s 50-day moving average is $102.16 and its 200-day moving average is $100.62. The company has a market cap of $41.00 billion, a P/E ratio of 19.86, a P/E/G ratio of 3.04 and a beta of 0.38. Consolidated Edison Inc has a 52-week low of $94.50 and a 52-week high of $114.87.

Consolidated Edison Increases Dividend

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

Consolidated Edison 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.