Brokerages Set Consolidated Edison Inc (NYSE:ED) Price Target at $105.08

Shares of Consolidated Edison Inc (NYSE:ED) have been assigned a consensus rating of “Reduce” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $105.0833.

Several equities analysts recently issued reports on ED shares. KeyCorp lifted their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday. Evercore ISI began coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, New Street Research set a $106.00 price objective on shares of Consolidated Edison in a research note on Monday, October 6th.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC boosted its position in shares of Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the period. D.A. Davidson & CO. increased its position in shares of Consolidated Edison by 55.1% in the first quarter. D.A. Davidson & CO. now owns 17,295 shares of the utilities provider’s stock valued at $1,913,000 after acquiring an additional 6,145 shares during the last quarter. Strategic Blueprint LLC raised its holdings in Consolidated Edison by 11.0% during the first quarter. Strategic Blueprint LLC now owns 4,215 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 418 shares in the last quarter. World Investment Advisors raised its stake in shares of Consolidated Edison by 15.3% during the 1st quarter. World Investment Advisors now owns 6,933 shares of the utilities provider’s stock worth $767,000 after purchasing an additional 922 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in Consolidated Edison by 8.6% in the first quarter. Concurrent Investment Advisors LLC now owns 8,011 shares of the utilities provider’s stock valued at $886,000 after acquiring an additional 634 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $98.43 on Wednesday. The business has a 50 day simple moving average of $98.74 and a 200 day simple moving average of $101.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The company has a market capitalization of $35.50 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. Consolidated Edison has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts forecast that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s payout ratio is currently 59.44%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.