Consolidated Edison (NYSE:ED) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of Consolidated Edison (NYSE:ED) in a research report sent to investors on Friday, Marketbeat.com reports. The firm issued a hold rating and a $105.00 price target on the utilities provider’s stock.

A number of other equities analysts have also recently commented on the company. Barclays dropped their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Morgan Stanley set a $92.00 target price on Consolidated Edison in a research note on Tuesday, December 16th. Cowen assumed coverage on Consolidated Edison in a research report on Thursday. They set a “hold” rating for the company. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Finally, New Street Research set a $106.00 price target on shares of Consolidated Edison in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $103.53.

Consolidated Edison Stock Performance

NYSE ED opened at $99.21 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. Consolidated Edison has a 1-year low of $87.28 and a 1-year high of $114.87. The business has a 50 day simple moving average of $98.87 and a two-hundred day simple moving average of $99.74. The stock has a market capitalization of $35.81 billion, a PE ratio of 17.34, a P/E/G ratio of 2.71 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued 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 8.79% and a net margin of 12.27%.The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, research analysts predict that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is 59.44%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Consolidated Edison

Hedge funds and other institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC raised its stake in Consolidated Edison by 13.6% in the second quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock worth $84,000 after buying an additional 100 shares in the last quarter. Certuity LLC increased its holdings in shares of Consolidated Edison by 2.7% in the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR raised its position in shares of Consolidated Edison by 0.8% in the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 105 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Consolidated Edison by 1.7% during the 3rd quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 107 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Consolidated Edison by 1.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 11,050 shares of the utilities provider’s stock worth $1,109,000 after purchasing an additional 109 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

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.