Consolidated Edison Inc (NYSE:ED) Receives Consensus Recommendation of “Reduce” from Brokerages

Consolidated Edison Inc (NYSE:ED) has been given an average rating of “Reduce” by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $109.0667.

A number of brokerages recently issued reports on ED. Mizuho set a $114.00 price objective on Consolidated Edison in a research note on Monday, July 27th. Argus set a $112.00 target price on shares of Consolidated Edison in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 22nd. Finally, Barclays dropped their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently made changes to their positions in the stock. GW&K Investment Management LLC lifted its holdings in Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. bLong Financial LLC grew its holdings in Consolidated Edison by 1.3% during the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares in the last quarter. Sachetta LLC increased its position in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. Bridgewater Advisors Inc. increased its position in shares of Consolidated Edison by 1.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after buying an additional 105 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Consolidated Edison by 1.3% in the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock worth $937,000 after buying an additional 105 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $108.36 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $109.76 and a two-hundred day simple moving average of $109.80. Consolidated Edison has a 1-year low of $94.96 and a 1-year high of $116.23. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.80 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 58.29%.

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.