Consolidated Edison Inc (NYSE:ED) Receives Average Rating of “Reduce” from Brokerages

Shares of Consolidated Edison Inc (NYSE:ED) have earned a consensus recommendation of “Reduce” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $105.9167.

Several equities analysts have recently issued reports on the company. Barclays upped their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Morgan Stanley cut their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. New Street Research set a $106.00 price target on Consolidated Edison in a research note on Monday, October 6th. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management bought a new stake in Consolidated Edison in the first quarter valued at about $32,000. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the first quarter valued at about $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison in the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $101.14 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market cap of $36.48 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.81 and a beta of 0.32. The business’s fifty day moving average is $99.41 and its two-hundred day moving average is $102.81. Consolidated Edison has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating 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 quarter in the prior 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 forecast that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is currently 61.71%.

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.