TD Asset Management Inc Acquires 4,927 Shares of Consolidated Edison Inc $ED

TD Asset Management Inc lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,152 shares of the utilities provider’s stock after purchasing an additional 4,927 shares during the quarter. TD Asset Management Inc’s holdings in Consolidated Edison were worth $36,404,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC lifted its position in Consolidated Edison by 13.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after buying an additional 100 shares in the last quarter. Certuity LLC boosted its position in Consolidated Edison by 2.7% during the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 100 shares during the last quarter. Stephens Inc. AR grew its stake in Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after purchasing an additional 105 shares in the last quarter. Bridgewater Advisors Inc. increased its position in shares of Consolidated Edison by 1.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 107 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of Consolidated Edison by 0.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Bank of America reissued an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday. Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. Scotiabank raised their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $107.07.

Insider Transactions at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Consolidated Edison Stock Performance

Shares of ED stock opened at $112.49 on Friday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.25. The company has a market capitalization of $40.64 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.96 and a beta of 0.38. The company has a 50-day simple moving average of $104.99 and a 200 day simple moving average of $101.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is 62.83%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.