Consolidated Edison (NYSE:ED) Coverage Initiated by Analysts at TD Cowen

Research analysts at TD Cowen initiated coverage on shares of Consolidated Edison (NYSE:ED) in a report released on Friday. The firm set a “hold” rating and a $105.00 price target on the utilities provider’s stock. TD Cowen’s target price would indicate a potential upside of 4.12% from the company’s current price.

Several other equities analysts have also recently issued reports on ED. New Street Research set a $106.00 target price on Consolidated Edison in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Evercore ISI initiated coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price for the company. Finally, Cowen started coverage on Consolidated Edison in a research note on Thursday. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $103.53.

Consolidated Edison Trading Up 0.7%

ED traded up $0.67 during trading on Friday, hitting $100.85. 40,869 shares of the stock traded hands, compared to its average volume of 1,426,108. The firm has a market capitalization of $36.40 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.71 and a beta of 0.39. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The firm has a 50-day moving average of $98.84 and a 200 day moving average of $99.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the prior year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts anticipate that Consolidated Edison will post 5.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Consolidated Edison

A number of institutional investors and hedge funds have recently modified their holdings of the business. Revolve Wealth Partners LLC increased its holdings in Consolidated Edison by 13.4% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Consolidated Edison by 8.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,349 shares of the utilities provider’s stock worth $4,352,000 after acquiring an additional 3,017 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Consolidated Edison by 35.8% during the first quarter. Jones Financial Companies Lllp now owns 13,476 shares of the utilities provider’s stock valued at $1,490,000 after purchasing an additional 3,555 shares during the last quarter. Ascent Group LLC bought a new position in Consolidated Edison during the first quarter valued at approximately $311,000. Finally, Empowered Funds LLC boosted its holdings in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

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.