Consolidated Edison Inc (NYSE:ED) Given Average Rating of “Reduce” by Analysts

Shares of Consolidated Edison Inc (NYSE:ED) have been given an average rating of “Reduce” by the sixteen brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $103.5333.

A number of equities research analysts recently issued reports on the company. KeyCorp lowered their price objective on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. JPMorgan Chase & Co. dropped their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Finally, Barclays cut their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison 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 sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently modified their holdings of ED. JPL Wealth Management LLC purchased a new stake in Consolidated Edison in the third quarter worth approximately $26,000. Aventura Private Wealth LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $27,000. Dorato Capital Management purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at $28,000. Salomon & Ludwin LLC grew its holdings in shares of Consolidated Edison by 270.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 219 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $103.83 on Monday. The business’s fifty day moving average is $99.28 and its 200 day moving average is $99.80. The firm has a market cap of $37.48 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.83 and a beta of 0.39. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison has a 52-week low of $90.35 and a 52-week high of $114.87.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

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.