Generali Asset Management SPA SGR Has $5.50 Million Stock Position in Consolidated Edison Inc $ED

Key Points

• Generali Asset Management SPA SGR increased its stake in Consolidated Edison Inc by 34.7% during the second quarter, totaling a position worth approximately $5.50 million.
• Consolidated Edison reported a quarterly EPS of $0.67, surpassing expectations, with revenues of $3.60 billion, indicating strong financial performance.
• Analysts have varied ratings on the stock, with three buy ratings, five holds, and four sells, and a consensus price target of $105.92.

Generali Asset Management SPA SGR grew its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 34.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 54,764 shares of the utilities provider's stock after buying an additional 14,100 shares during the period. Generali Asset Management SPA SGR's holdings in Consolidated Edison were worth $5,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ED. Exchange Traded Concepts LLC grew its stake in shares of Consolidated Edison by 1.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider's stock valued at $1,109,000 after buying an additional 109 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Consolidated Edison by 1.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,896 shares of the utilities provider's stock worth $893,000 after buying an additional 110 shares during the last quarter. Western Wealth Management LLC boosted its stake in shares of Consolidated Edison by 0.7% in the 1st quarter. Western Wealth Management LLC now owns 16,101 shares of the utilities provider's stock worth $1,781,000 after buying an additional 116 shares during the last quarter. Finally, Eastern Bank boosted its stake in shares of Consolidated Edison by 2.9% in the 1st quarter. Eastern Bank now owns 4,294 shares of the utilities provider's stock worth $475,000 after buying an additional 120 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED stock opened at $102.31 on Thursday. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a market cap of $36.90 billion, a P/E ratio of 18.57, a PEG ratio of 2.83 and a beta of 0.32. The firm has a 50-day moving average of $99.56 and a 200 day moving average of $102.93. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior 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, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. New Street Research set a $106.00 price target on shares of Consolidated Edison in a report on Monday, October 6th. Scotiabank lifted their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday, September 25th. Finally, KeyCorp upped their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an "underweight" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of "Reduce" and a consensus price target of $105.92.

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.

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