Consolidated Edison (NYSE:ED) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Consolidated Edison (NYSE:ED) in a report published on Wednesday morning. The brokerage issued a sector perform rating and a $114.00 price objective on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays cut their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. JPMorgan Chase & Co. dropped their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $103.53.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $99.21 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average price is $98.87 and its two-hundred day moving average price is $99.73. Consolidated Edison has a 52-week low of $87.28 and a 52-week high of $114.87. The stock has a market capitalization of $35.81 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.73 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period in the prior year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Insider Activity at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp boosted its stake in Consolidated Edison by 46.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock valued at $373,000 after buying an additional 1,183 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in Consolidated Edison by 4.8% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after acquiring an additional 110,666 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in shares of Consolidated Edison by 41.8% during the second quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock valued at $1,669,000 after acquiring an additional 4,900 shares during the period. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Consolidated Edison in the 1st quarter valued at $1,631,000. Finally, Mediolanum International Funds Ltd grew its holdings in shares of Consolidated Edison by 65.5% in the 2nd quarter. Mediolanum International Funds Ltd now owns 14,502 shares of the utilities provider’s stock worth $1,423,000 after purchasing an additional 5,742 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

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.