B. Metzler seel. Sohn & Co. Holding AG Takes Position in Consolidated Edison, Inc. (NYSE:ED)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Consolidated Edison, Inc. (NYSE:ED) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,707 shares of the utilities provider’s stock, valued at approximately $1,674,000.

Several other hedge funds have also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $29,000. Crescent Capital Consulting LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $30,000. Financial Avengers Inc. acquired a new stake in Consolidated Edison in the fourth quarter valued at $30,000. SRS Capital Advisors Inc. acquired a new stake in Consolidated Edison in the fourth quarter valued at $32,000. Finally, Retirement Group LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $32,000. 62.44% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ED opened at $75.31 on Thursday. The stock’s 50-day moving average price is $70.81 and its two-hundred day moving average price is $74.07. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.03. Consolidated Edison, Inc. has a 12-month low of $65.56 and a 12-month high of $90.00. The firm has a market cap of $25.79 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 7.80 and a beta of 0.11.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Wednesday, February 17th. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $0.87 earnings per share. As a group, research analysts forecast that Consolidated Edison, Inc. will post 4.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Wednesday, February 17th were issued a dividend of $0.775 per share. The ex-dividend date of this dividend was Tuesday, February 16th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.77. This represents a $3.10 annualized dividend and a yield of 4.12%. Consolidated Edison’s payout ratio is currently 70.94%.

A number of equities research analysts have commented on ED shares. Mizuho reduced their target price on Consolidated Edison from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, January 22nd. They noted that the move was a valuation call. TheStreet downgraded Consolidated Edison from a “b-” rating to a “c” rating in a report on Monday, March 22nd. Morgan Stanley raised their price target on Consolidated Edison from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Thursday, March 25th. Credit Suisse Group reiterated an “underperform” rating and set a $65.00 price objective (down previously from $75.00) on shares of Consolidated Edison in a research report on Monday, March 1st. Finally, Evercore ISI cut Consolidated Edison from an “in-line” rating to an “underperform” rating in a research report on Thursday, January 21st. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.08.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,576 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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