Consolidated Edison Inc (NYSE:ED) Receives $103.53 Consensus Target Price from Analysts

Shares of Consolidated Edison Inc (NYSE:ED) have been given a consensus recommendation of “Reduce” by the fifteen research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $104.20.

A number of equities analysts have recently issued reports on ED shares. UBS Group increased their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays dropped their price target on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday. Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective on the stock. Wells Fargo & Company decreased their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Morgan Stanley restated an “underweight” rating and issued a $96.00 price objective on shares of Consolidated Edison in a research note on Wednesday.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the sale, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Consolidated Edison

A number of hedge funds and other institutional investors have recently bought and sold shares of ED. Golden State Wealth Management LLC boosted its holdings in shares of Consolidated Edison by 13.6% in the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after acquiring an additional 100 shares during the period. Certuity LLC lifted its holdings in Consolidated Edison by 2.7% during the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares in the last quarter. Meadowbrook Wealth Management LLC boosted its stake in Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR boosted its stake in Consolidated Edison by 0.8% in the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock worth $1,386,000 after purchasing an additional 105 shares during the period. Finally, Bridgewater Advisors Inc. grew its holdings in Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after buying an additional 105 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.6%

ED opened at $103.84 on Monday. The company has a fifty day moving average of $99.67 and a 200-day moving average of $99.95. Consolidated Edison has a twelve month low of $90.36 and a twelve month high of $114.87. 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 stock has a market cap of $37.48 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced 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 for 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 quarter in the prior year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

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.