Tobam Purchases 5,683 Shares of Consolidated Edison Inc $ED

Tobam lifted its position in shares of Consolidated Edison Inc (NYSE:ED) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,485 shares of the utilities provider’s stock after purchasing an additional 5,683 shares during the period. Consolidated Edison comprises 2.0% of Tobam’s investment portfolio, making the stock its 5th largest holding. Tobam’s holdings in Consolidated Edison were worth $8,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. IFP Advisors Inc increased its position in Consolidated Edison by 194.5% in the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider’s stock valued at $1,559,000 after acquiring an additional 10,044 shares during the period. Strive Asset Management LLC bought a new stake in shares of Consolidated Edison in the third quarter worth $1,005,000. North Dakota State Investment Board bought a new stake in shares of Consolidated Edison in the fourth quarter worth $1,228,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Consolidated Edison by 5.6% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 776,533 shares of the utilities provider’s stock valued at $78,057,000 after purchasing an additional 40,838 shares during the period. Finally, AIA Group Ltd increased its holdings in Consolidated Edison by 99.5% in the third quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider’s stock valued at $4,703,000 after purchasing an additional 23,337 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $106.36 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $107.84 and its 200-day moving average price is $106.68. The firm has a market capitalization of $39.20 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen upped their price target on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Evercore set a $116.00 price objective on Consolidated Edison in a research report on Monday, May 11th. KeyCorp upped their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $107.79.

About Consolidated Edison

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.