Consolidated Edison (NYSE:ED) Now Covered by TD Cowen

Research analysts at TD Cowen assumed coverage on shares of Consolidated Edison (NYSE:ED) in a research report issued on Friday. The brokerage set a “hold” rating and a $105.00 price target on the utilities provider’s stock. TD Cowen’s target price would suggest a potential upside of 4.12% from the company’s current price.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Royal Bank Of Canada began coverage on shares of Consolidated Edison in a research report on Wednesday. They issued a “sector perform” rating and a $114.00 price target on the stock. Barclays decreased their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Finally, Cowen started coverage on Consolidated Edison in a report on Thursday. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $103.53.

Consolidated Edison Trading Up 0.7%

NYSE ED traded up $0.67 during trading hours on Friday, reaching $100.85. The company’s stock had a trading volume of 40,869 shares, compared to its average volume of 1,426,108. The firm has a fifty day simple moving average of $98.84 and a 200-day simple moving average of $99.75. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. Consolidated Edison has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a market cap of $36.40 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.71 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the previous year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Consolidated Edison

A number of hedge funds have recently made changes to their positions in ED. Revolve Wealth Partners LLC boosted its stake in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Consolidated Edison by 8.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,349 shares of the utilities provider’s stock valued at $4,352,000 after purchasing an additional 3,017 shares during the last quarter. Jones Financial Companies Lllp raised its position in Consolidated Edison by 35.8% in the 1st quarter. Jones Financial Companies Lllp now owns 13,476 shares of the utilities provider’s stock worth $1,490,000 after purchasing an additional 3,555 shares during the period. Ascent Group LLC bought a new stake in Consolidated Edison in the first quarter worth $311,000. Finally, Empowered Funds LLC grew its stake in shares of Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Company Profile

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.