JPMorgan Chase & Co. Issues Pessimistic Forecast for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its price objective cut by research analysts at JPMorgan Chase & Co. from $101.00 to $97.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 0.56% from the stock’s current price.

Several other analysts also recently weighed in on the company. Morgan Stanley reiterated an “underweight” rating and set a $98.00 price target on shares of Consolidated Edison in a research note on Thursday, November 20th. New Street Research set a $106.00 target price on Consolidated Edison in a research report on Monday, October 6th. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the stock from $112.00 to $101.00 in a report on Friday, August 15th. KeyCorp reduced their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Evercore ISI assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $103.69.

Consolidated Edison Stock Performance

ED opened at $97.55 on Friday. The company has a market cap of $35.21 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm’s 50-day moving average price is $99.29 and its 200-day moving average price is $100.12. Consolidated Edison has a 52-week low of $87.28 and a 52-week high of $114.87.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the prior year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts anticipate that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. Norges Bank acquired a new position in Consolidated Edison in the 2nd quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison during the first quarter worth approximately $254,205,000. Vanguard Group Inc. grew its holdings in Consolidated Edison by 4.5% in the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after purchasing an additional 1,923,717 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after buying an additional 1,152,892 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

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.