Consolidated Edison, Inc. (NYSE:ED) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 91,684 shares of the utilities provider’s stock after purchasing an additional 1,752 shares during the quarter. MetLife Investment Management LLC’s holdings in Consolidated Edison were worth $8,181,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ED. Vanguard Group Inc. grew its holdings in Consolidated Edison by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock valued at $3,788,319,000 after buying an additional 488,752 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Consolidated Edison by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock valued at $799,684,000 after acquiring an additional 130,234 shares in the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison in the fourth quarter valued at $399,824,000. Invesco Ltd. increased its position in Consolidated Edison by 27.9% during the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider’s stock worth $332,090,000 after purchasing an additional 812,885 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Consolidated Edison by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after purchasing an additional 77,323 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $111.01 on Tuesday. Consolidated Edison, Inc. has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a fifty day moving average of $105.09 and a 200-day moving average of $99.22. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $39.99 billion, a P/E ratio of 21.19, a PEG ratio of 3.05 and a beta of 0.27.

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

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.06%. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ED shares. UBS Group lifted their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Citigroup upped their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley increased their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.80.

Consolidated Edison Company 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.