1,198 Shares in Consolidated Edison Inc $ED Acquired by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH bought a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,198 shares of the utilities provider’s stock, valued at approximately $120,000.

Several other hedge funds have also modified their holdings of the stock. Ritholtz Wealth Management purchased a new position in Consolidated Edison in the first quarter valued at approximately $227,000. Wealth Enhancement Advisory Services LLC raised its holdings in Consolidated Edison by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider’s stock valued at $27,649,000 after buying an additional 6,869 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Consolidated Edison in the first quarter valued at approximately $217,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in Consolidated Edison in the first quarter valued at approximately $1,631,000. Finally, GAMMA Investing LLC raised its holdings in Consolidated Edison by 45.0% in the first quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after buying an additional 2,869 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 1.5%

Shares of NYSE:ED opened at $102.36 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $99.73 and a 200 day simple moving average of $103.00. The firm has a market cap of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is presently 61.71%.

Wall Street Analysts Forecast Growth

ED has been the topic of several research reports. Bank of America lowered shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Barclays raised their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Finally, Morgan Stanley reduced their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.75.

Consolidated Edison 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.