Consolidated Edison Inc (NYSE:ED) Stock Has Consensus Price Target of $107.73

Consolidated Edison Inc (NYSE:ED) has been given an average recommendation of “Reduce” by the seventeen ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $107.50.

A number of equities analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, October 6th. Evercore reissued a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research report on Monday, August 17th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, September 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday. Finally, Wells Fargo & Company lifted their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th.

Consolidated Edison Stock Down 0.4%

NYSE:ED opened at $115.82 on Wednesday. The company has a market cap of $42.83 billion, a PE ratio of 20.08, a PEG ratio of 4.02 and a beta of 0.26. Consolidated Edison has a 52-week low of $94.96 and a 52-week high of $116.50. The stock has a 50-day simple moving average of $107.03 and a 200 day simple moving average of $108.44. 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 released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. During the same quarter in the prior year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison will post 6.10 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Hedge Funds Weigh In On Consolidated Edison

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Consolidated Edison during the 2nd quarter valued at approximately $4,609,491,000. Deutsche Bank AG bought a new position in Consolidated Edison during the 2nd quarter worth approximately $749,184,000. Legal & General Group Plc acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $494,352,000. Bank of New York Mellon Corp acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $231,014,000. Finally, Amundi boosted its stake in shares of Consolidated Edison by 66.2% in the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock valued at $438,272,000 after purchasing an additional 1,543,069 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

About Consolidated Edison

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.