Consolidated Edison (NYSE:ED) Price Target Raised to $96.00

Consolidated Edison (NYSE:ED) had its target price increased by KeyCorp from $86.00 to $96.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on ED. JPMorgan Chase & Co. lowered their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Bank of America reissued an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Citigroup restated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $102.00 price target on shares of Consolidated Edison in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $107.73.

Consolidated Edison Trading Up 1.6%

Shares of NYSE ED opened at $112.43 on Wednesday. Consolidated Edison has a twelve month low of $94.96 and a twelve month high of $115.25. The stock has a market cap of $40.62 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.97 and a beta of 0.38. 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 fifty day moving average is $106.28 and its 200-day moving average is $101.50.

Consolidated Edison (NYSE:ED) last released 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. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s payout ratio is currently 62.83%.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Consolidated Edison

Several institutional investors have recently bought and sold shares of ED. JPL Wealth Management LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison in the fourth quarter valued at $27,000. Finally, Dorato Capital Management bought a new position in Consolidated Edison in the fourth quarter valued at $28,000. Institutional investors own 66.29% of the company’s stock.

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.