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

Shares of Consolidated Edison Inc (NYSE:ED) have earned an average rating of “Reduce” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $108.00.

ED has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Bank of America reaffirmed an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Mizuho set a $118.00 target price on shares of Consolidated Edison in a research report on Monday, February 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research report on Friday, January 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th.

Insider Transactions at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Consolidated Edison by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at $556,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Consolidated Edison by 3.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after purchasing an additional 29,606 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at $4,017,000. Finally, Caprock Group LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at $2,586,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.8%

NYSE:ED opened at $113.59 on Friday. Consolidated Edison has a 12 month low of $94.96 and a 12 month high of $116.23. The firm has a market cap of $41.03 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.94 and a beta of 0.34. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $111.43 and its 200-day moving average is $103.85.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts anticipate that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, February 18th. Consolidated Edison’s payout ratio is presently 62.83%.

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.