Consolidated Edison (NYSE:ED) Now Covered by Analysts at Evercore ISI

Stock analysts at Evercore ISI began coverage on shares of Consolidated Edison (NYSE:ED) in a report issued on Tuesday,Benzinga reports. The firm set an “in-line” rating and a $106.00 price target on the utilities provider’s stock. Evercore ISI’s target price would suggest a potential upside of 6.77% from the company’s previous close.

Several other research analysts have also commented on ED. Mizuho raised their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Saturday, September 27th. Morgan Stanley decreased their price target on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Finally, 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 research note on Monday, August 11th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $105.92.

Consolidated Edison Trading Up 0.5%

NYSE ED opened at $99.28 on Tuesday. The firm has a 50 day simple moving average of $99.91 and a 200-day simple moving average of $103.17. 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 has a one year low of $87.28 and a one year high of $114.87. The firm has a market cap of $35.81 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.75 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts anticipate that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Institutional Trading of Consolidated Edison

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after purchasing an additional 1,923,717 shares during the last quarter. Geode Capital Management LLC raised its position in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after purchasing an additional 566,358 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Consolidated Edison by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock valued at $538,437,000 after purchasing an additional 48,323 shares during the last quarter. Norges Bank purchased a new stake in Consolidated Edison in the 2nd quarter valued at $462,218,000. Finally, Deutsche Bank AG raised its position in 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 during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company 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.