Trust Co. of Toledo NA OH Makes New $120,000 Investment in Consolidated Edison Inc $ED

Trust Co. of Toledo NA OH acquired a new position in shares of Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,198 shares of the utilities provider’s stock, valued at approximately $120,000.

Other large investors also recently bought and sold shares of the company. ATLAS Infrastructure Partners UK Ltd. purchased a new position in shares of Consolidated Edison in the 1st quarter valued at about $254,205,000. Deutsche Bank AG increased its holdings in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after purchasing an additional 1,441,785 shares in the last quarter. Nuveen LLC purchased a new position in shares of Consolidated Edison in the 1st quarter valued at about $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after purchasing an additional 1,152,892 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $102.36 on Monday. 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 $36.92 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.85 and a beta of 0.32. The firm’s 50-day moving average is $99.73 and its two-hundred day moving average is $103.00. 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) last released 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 net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations 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. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were given a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Analyst Ratings Changes

ED has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho raised their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Scotiabank raised their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Finally, KeyCorp restated an “overweight” rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.75.

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.