B. Metzler seel. Sohn & Co. Holding AG Purchases New Stake in Consolidated Edison, Inc. (NYSE:ED)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 23,648 shares of the utilities provider’s stock, valued at approximately $2,462,000.

A number of other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison in the third quarter worth approximately $27,000. Beacon Capital Management LLC increased its stake in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $30,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison in the 1st quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the second quarter valued at approximately $33,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

ED opened at $98.67 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $102.14 and its 200 day simple moving average is $98.06. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 3.26 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. As a group, analysts predict that Consolidated Edison, Inc. will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

Analysts Set New Price Targets

A number of brokerages recently commented on ED. Jefferies Financial Group began coverage on Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank lifted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley lifted their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $98.35.

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.