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

Consolidated Edison (NYSE:ED) had its price target cut by Morgan Stanley from $101.00 to $97.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have an underweight rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on ED. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Argus set a $112.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Finally, Evercore reissued a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $108.67.

Consolidated Edison Trading Down 0.0%

Shares of NYSE:ED opened at $105.40 on Friday. The company has a market capitalization of $38.98 billion, a P/E ratio of 17.31, a P/E/G ratio of 3.65 and a beta of 0.27. Consolidated Edison has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The business’s 50 day simple moving average is $108.68 and its 200 day simple moving average is $109.42.

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

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th were issued a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio is 58.29%.

Hedge Funds Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. boosted its position in Consolidated Edison by 16.9% during the first quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider’s stock valued at $23,201,000 after acquiring an additional 29,635 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Consolidated Edison by 9.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider’s stock worth $24,865,000 after acquiring an additional 20,972 shares during the period. M3 Wealth Management LLC bought a new position in shares of Consolidated Edison in the 4th quarter worth about $1,380,000. SteelPeak Wealth LLC bought a new position in shares of Consolidated Edison in the 1st quarter worth about $3,751,000. Finally, Havemeyer Place LP acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $1,046,000. Institutional investors own 66.29% of the company’s stock.

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.