Metropolitan Life Insurance Co. NY Has $4.08 Million Stake in Consolidated Edison, Inc. (ED)

Metropolitan Life Insurance Co. NY lowered its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 67.3% during the 4th quarter, Holdings Channel reports. The firm owned 48,056 shares of the utilities provider’s stock after selling 98,951 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Consolidated Edison were worth $4,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Consolidated Edison by 2.7% during the 4th quarter. BlackRock Inc. now owns 25,916,294 shares of the utilities provider’s stock valued at $2,201,589,000 after purchasing an additional 680,592 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Consolidated Edison by 28.4% during the 4th quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after purchasing an additional 1,153,600 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 valued at $290,908,000 after purchasing an additional 147,170 shares during the last quarter. Legal & General Group Plc grew its position in Consolidated Edison by 5.2% in the 3rd quarter. Legal & General Group Plc now owns 2,930,589 shares of the utilities provider’s stock valued at $236,432,000 after acquiring an additional 144,652 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Consolidated Edison by 25.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock worth $232,610,000 after buying an additional 582,457 shares during the period. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Consolidated Edison, Inc. (NYSE:ED) opened at $77.05 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.72. The firm has a market capitalization of $24,040.25, a price-to-earnings ratio of 15.60, a P/E/G ratio of 4.54 and a beta of 0.10. Consolidated Edison, Inc. has a 12 month low of $73.73 and a 12 month high of $89.70.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a return on equity of 8.51% and a net margin of 12.67%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. analysts anticipate that Consolidated Edison, Inc. will post 4.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 14th were paid a dividend of $0.715 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, February 13th. Consolidated Edison’s dividend payout ratio is 57.89%.

Several equities research analysts have weighed in on the company. ValuEngine cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Morgan Stanley lowered their target price on Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, February 13th. UBS assumed coverage on Consolidated Edison in a report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 target price for the company. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. assumed coverage on Consolidated Edison in a report on Friday, January 12th. They issued an “underweight” rating and a $78.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.32.

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About Consolidated Edison

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).

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

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