Consolidated Edison (NYSE:ED) Sets New 12-Month High on Analyst Upgrade

Consolidated Edison Inc (NYSE:ED) shares hit a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $107.00 to $113.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Consolidated Edison traded as high as $115.36 and last traded at $115.2510, with a volume of 588824 shares changing hands. The stock had previously closed at $113.13.

Several other brokerages also recently weighed in on ED. Barclays boosted their price target on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. KeyCorp lifted their price objective on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, March 4th. UBS Group upped their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Mizuho set a $118.00 target price on Consolidated Edison in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $108.80.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Consolidated Edison

Hedge funds and other institutional investors have recently made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth about $27,000. Westfuller Advisors LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $27,000. Finally, Dorato Capital Management acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.5%

The firm has a market capitalization of $41.49 billion, a PE ratio of 20.33, a P/E/G ratio of 3.08 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a fifty day moving average of $107.57 and a 200 day moving average of $101.91.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the company posted $0.98 EPS. Consolidated Edison’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s payout ratio is currently 62.83%.

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.