Consolidated Edison, Inc. (NYSE:ED) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG lessened its stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.8% during 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Consolidated Edison during the third quarter worth about $776,000. JPMorgan Chase & Co. lifted its stake in shares of Consolidated Edison by 4.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after purchasing an additional 82,985 shares during the period. Hennessy Advisors Inc. boosted its holdings in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock worth $12,772,000 after buying an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock worth $38,394,000 after purchasing an additional 217,981 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after purchasing an additional 4,451 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

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Analyst Upgrades and Downgrades

ED has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a report on Thursday, March 20th. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Barclays upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st. Finally, UBS Group increased their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $102.40.

Consolidated Edison Stock Down 1.9 %

Shares of ED stock traded down $2.11 during trading hours on Monday, reaching $107.21. The company had a trading volume of 1,214,544 shares, compared to its average volume of 2,179,222. The company has a market capitalization of $38.62 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 3.05 and a beta of 0.27. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The stock's fifty day simple moving average is $101.43 and its 200 day simple moving average is $98.70. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison's dividend payout ratio is 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.