Consolidated Edison (NYSE:ED) Price Target Lowered to $97.00 at Morgan Stanley

Consolidated Edison (NYSE:ED) had its price objective reduced by analysts at Morgan Stanley from $101.00 to $97.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 8.80% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Barclays reduced their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research report on Friday, August 7th. KeyCorp cut their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. Wells Fargo & Company boosted their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Mizuho set a $114.00 target price on Consolidated Edison in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $108.67.

Consolidated Edison Stock Down 0.7%

Shares of NYSE ED opened at $106.36 on Friday. The stock has a market cap of $39.33 billion, a PE ratio of 17.44, a PEG ratio of 3.65 and a beta of 0.27. The business has a fifty day moving average of $108.80 and a two-hundred day moving average of $109.47. Consolidated Edison has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the previous year, the company earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts expect that Consolidated Edison will post 6.1 earnings per share for the current fiscal year.

Institutional Trading of Consolidated Edison

Several hedge funds have recently bought and sold shares of ED. Bouchey Financial Group Ltd. acquired a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $200,000. Tidal Investments LLC grew its holdings in shares of Consolidated Edison by 75.5% during the second quarter. Tidal Investments LLC now owns 35,439 shares of the utilities provider’s stock worth $3,921,000 after buying an additional 15,243 shares in the last quarter. National Pension Service grew its holdings in shares of Consolidated Edison by 4.2% during the second quarter. National Pension Service now owns 584,542 shares of the utilities provider’s stock worth $64,668,000 after buying an additional 23,679 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Consolidated Edison by 6.2% during the second quarter. Cidel Asset Management Inc. now owns 3,711 shares of the utilities provider’s stock worth $411,000 after buying an additional 218 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in Consolidated Edison by 5.3% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,461 shares of the utilities provider’s stock valued at $494,000 after buying an additional 223 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.