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

Shares of Consolidated Edison Inc (NYSE:ED) have been given a consensus recommendation of “Reduce” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $102.5385.

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Barclays dropped their price objective 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. Evercore ISI assumed coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a report on Monday, October 6th.

Insider Buying and Selling

In related news, Director John F. Killian sold 2,276 shares of the 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 completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Consolidated Edison by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after acquiring an additional 134,122 shares during the last quarter. State Street Corp lifted its holdings in shares of Consolidated Edison by 0.3% during the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock valued at $2,417,563,000 after purchasing an additional 63,346 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after purchasing an additional 566,358 shares during the period. Lazard Asset Management LLC increased its stake in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after buying an additional 48,323 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $99.41 on Thursday. The company has a 50-day simple moving average of $98.80 and a 200 day simple moving average of $99.80. The company has a market capitalization of $35.88 billion, a P/E ratio of 17.38, a PEG ratio of 2.89 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last released 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 firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter last year, the company earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

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.