Metis Global Partners LLC Increases Stock Position in Consolidated Edison Inc $ED

Metis Global Partners LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,801 shares of the utilities provider’s stock after purchasing an additional 2,591 shares during the period. Metis Global Partners LLC’s holdings in Consolidated Edison were worth $3,191,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 1.6% during the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock valued at $4,768,319,000 after acquiring an additional 661,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Consolidated Edison by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after purchasing an additional 48,323 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after purchasing an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in shares of Consolidated Edison during the first quarter worth about $254,205,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. KeyCorp upped their price objective on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. Scotiabank increased their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley upped their target price on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Finally, Barclays reduced their target price on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $105.08.

Consolidated Edison Price Performance

ED stock opened at $98.43 on Friday. The company has a market cap of $35.50 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $98.74 and a two-hundred day moving average price of $101.59. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the previous year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

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.