Consolidated Edison Inc $ED Shares Acquired by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super Pty Ltd increased its stake in Consolidated Edison Inc by 10.2% during Q2, acquiring 3,169 additional shares for a total of 34,338 shares valued at $3,446,000.
• Other institutional investors, including the New York State Teachers Retirement System, also raised their stakes in the company, with the former increasing its shares by 12.9% during the same quarter.
• Consolidated Edison reported $0.67 EPS for the last quarter, exceeding analysts' estimates of $0.66, with revenue of $3.60 billion, surpassing expectations of $3.39 billion.

Aware Super Pty Ltd as trustee of Aware Super boosted its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,338 shares of the utilities provider's stock after buying an additional 3,169 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in Consolidated Edison were worth $3,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in shares of Consolidated Edison by 12.9% during the second quarter. New York State Teachers Retirement System now owns 322,113 shares of the utilities provider's stock worth $32,324,000 after acquiring an additional 36,771 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Consolidated Edison by 9.8% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,854 shares of the utilities provider's stock valued at $186,000 after purchasing an additional 166 shares in the last quarter. Mutual Advisors LLC increased its holdings in Consolidated Edison by 6.1% during the 2nd quarter. Mutual Advisors LLC now owns 5,978 shares of the utilities provider's stock worth $611,000 after purchasing an additional 344 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in Consolidated Edison by 34.7% during the 2nd quarter. Generali Asset Management SPA SGR now owns 54,764 shares of the utilities provider's stock worth $5,496,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Essex LLC raised its position in shares of Consolidated Edison by 1.3% in the 2nd quarter. Essex LLC now owns 16,642 shares of the utilities provider's stock valued at $1,670,000 after purchasing an additional 221 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ED. Mizuho lifted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Barclays boosted their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. Scotiabank upped their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Evercore ISI began coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an "in-line" rating and a $106.00 price target for the company. Finally, KeyCorp upped their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an "underweight" rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of "Reduce" and a consensus price target of $105.92.

Consolidated Edison Trading Up 0.4%

NYSE ED opened at $102.31 on Thursday. 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 one year low of $87.28 and a one year high of $114.87. The company has a 50-day simple moving average of $99.56 and a 200-day simple moving average of $102.93. The firm has a market capitalization of $36.90 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its 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. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The firm had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter last year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

About Consolidated Edison

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.

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