Consolidated Edison Inc (NYSE:ED) Given Average Rating of “Reduce” by Brokerages

Consolidated Edison Inc (NYSE:ED) has been given an average recommendation of “Reduce” by the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $108.9231.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. TD Cowen raised their price target on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. Finally, Morgan Stanley lowered their price target on Consolidated Edison from $106.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st.

Consolidated Edison Price Performance

Shares of ED opened at $109.18 on Wednesday. The business’s 50-day moving average is $111.75 and its 200-day moving average is $105.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The company has a market capitalization of $40.22 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 2.79 and a beta of 0.29. Consolidated Edison has a fifty-two week low of $94.96 and a fifty-two week high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ED. Vanguard Group Inc. raised its holdings in Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after acquiring an additional 461,108 shares during the period. State Street Corp grew its position in shares of Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after purchasing an additional 854,868 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Consolidated Edison by 3.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,165,594 shares of the utilities provider’s stock worth $612,367,000 after purchasing an additional 205,041 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Consolidated Edison by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $489,806,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

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.