TD Asset Management Inc Acquires 50,446 Shares of Consolidated Edison Inc $ED

Key Points

• TD Asset Management Inc increased its stake in Consolidated Edison Inc by 16.4% during Q2, acquiring an additional 50,446 shares for a total of 357,225 shares valued at approximately $35.8 million.
• Consolidated Edison reported quarterly earnings of $0.67 per share, exceeding the estimate of $0.66, with revenue reaching $3.60 billion compared to expectations of $3.39 billion.
• Currently, analysts have mixed ratings on Consolidated Edison, with recent target prices ranging from $90 to $106, reflecting a consensus rating of "Reduce" and a target price of $105.92.

TD Asset Management Inc raised its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 16.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,225 shares of the utilities provider's stock after acquiring an additional 50,446 shares during the quarter. TD Asset Management Inc owned about 0.10% of Consolidated Edison worth $35,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison during the 1st quarter valued at $32,000. Capital Advisors Ltd. LLC increased its position in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider's stock valued at $32,000 after buying an additional 109 shares during the period. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at about $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after buying an additional 120 shares during the period. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 1.2%

Shares of NYSE:ED opened at $101.05 on Friday. The stock's 50-day moving average price is $99.48 and its 200-day moving average price is $102.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market capitalization of $36.44 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ED shares. Morgan Stanley decreased 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. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Consolidated Edison in a report on Wednesday, October 8th. KeyCorp upped their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an "underweight" rating in a research note on Wednesday. Finally, New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research report on Monday, October 6th. Three 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 company. According to MarketBeat.com, Consolidated Edison presently has an average rating of "Reduce" and a consensus target price 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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