Consolidated Edison Inc $ED Shares Acquired by Tobam

Tobam boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 284.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,662 shares of the utilities provider’s stock after buying an additional 45,639 shares during the quarter. Consolidated Edison comprises 2.4% of Tobam’s portfolio, making the stock its 6th biggest holding. Tobam’s holdings in Consolidated Edison were worth $6,188,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Revolve Wealth Partners LLC grew its position in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Consolidated Edison by 13.0% during the 1st quarter. Cerity Partners LLC now owns 86,845 shares of the utilities provider’s stock worth $9,604,000 after purchasing an additional 9,960 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Consolidated Edison by 27.4% during the first quarter. New York State Common Retirement Fund now owns 300,624 shares of the utilities provider’s stock valued at $33,246,000 after purchasing an additional 64,700 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Consolidated Edison in the first quarter valued at $3,067,000. Finally, Signaturefd LLC boosted its stake in Consolidated Edison by 2.7% during the first quarter. Signaturefd LLC now owns 13,487 shares of the utilities provider’s stock worth $1,491,000 after buying an additional 359 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ED. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. New Street Research set a $106.00 price objective on Consolidated Edison in a research note on Monday, October 6th. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Bank of America cut 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. Finally, KeyCorp boosted their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $104.75.

Consolidated Edison Price Performance

Shares of ED stock opened at $99.53 on Wednesday. The firm’s 50 day moving average price is $98.79 and its two-hundred day moving average price is $101.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market cap of $35.90 billion, a PE ratio of 18.06, a PEG ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period last year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

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.