B. Metzler seel. Sohn & Co. AG Sells 3,502 Shares of Consolidated Edison, Inc. (NYSE:ED)

B. Metzler seel. Sohn & Co. AG cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 14.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,146 shares of the utilities provider’s stock after selling 3,502 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Consolidated Edison were worth $1,798,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ED. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $27,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the fourth quarter valued at approximately $35,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $36,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Consolidated Edison in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.4 %

NYSE ED opened at $109.58 on Thursday. The stock has a market capitalization of $38.00 billion, a P/E ratio of 20.91, a P/E/G ratio of 3.05 and a beta of 0.30. The business has a 50 day simple moving average of $100.62 and a 200 day simple moving average of $98.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $111.11.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is 64.89%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ED. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, UBS Group upped their price target on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.40.

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.