Consolidated Edison, Inc. (ED) Shares Sold by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC trimmed its stake in Consolidated Edison, Inc. (NYSE:ED) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 93,410 shares of the utilities provider’s stock after selling 2,528 shares during the period. MetLife Investment Advisors LLC’s holdings in Consolidated Edison were worth $7,280,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ED. BlackRock Inc. increased its stake in Consolidated Edison by 2.7% during the 4th quarter. BlackRock Inc. now owns 25,916,294 shares of the utilities provider’s stock worth $2,201,589,000 after buying an additional 680,592 shares during the period. Geode Capital Management LLC increased its stake in Consolidated Edison by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 3,431,426 shares of the utilities provider’s stock worth $290,908,000 after buying an additional 147,170 shares during the period. Renaissance Technologies LLC increased its stake in Consolidated Edison by 40.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,099,400 shares of the utilities provider’s stock worth $178,344,000 after buying an additional 607,000 shares during the period. UBS Asset Management Americas Inc. increased its stake in Consolidated Edison by 3.4% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,747,206 shares of the utilities provider’s stock worth $148,425,000 after buying an additional 57,890 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Consolidated Edison by 13.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,545,346 shares of the utilities provider’s stock worth $120,441,000 after buying an additional 179,064 shares during the period. 57.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Consolidated Edison stock opened at $73.25 on Friday. Consolidated Edison, Inc. has a 12-month low of $71.12 and a 12-month high of $89.70. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $22.51 billion, a PE ratio of 17.91, a P/E/G ratio of 4.25 and a beta of 0.06.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 3rd. The utilities provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.05. Consolidated Edison had a net margin of 12.86% and a return on equity of 8.61%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts expect that Consolidated Edison, Inc. will post 4.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Wednesday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, May 15th. Consolidated Edison’s payout ratio is 69.93%.

Several equities research analysts recently weighed in on ED shares. Zacks Investment Research cut shares of Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. Morgan Stanley boosted their price target on shares of Consolidated Edison from $74.00 to $77.00 and gave the stock an “underweight” rating in a report on Monday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock a “sell” rating in a report on Tuesday, April 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.94.

Consolidated Edison Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

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

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply