Consolidated Edison Inc (NYSE:ED) Given Consensus Rating of “Reduce” by Brokerages

Shares of Consolidated Edison Inc (NYSE:ED) have been assigned a consensus rating of “Reduce” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $104.5833.

Several research firms recently issued reports on ED. Evercore ISI initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Wells Fargo & Company upgraded Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, November 24th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $98.00 price objective on shares of Consolidated Edison in a research note on Thursday, November 20th.

Consolidated Edison Stock Up 0.3%

Shares of ED stock opened at $100.43 on Friday. Consolidated Edison has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a fifty day moving average price of $99.75 and a 200 day moving average price of $100.63. The stock has a market cap of $36.25 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts predict that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Institutional Trading of Consolidated Edison

Large investors have recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP raised its stake in shares of Consolidated Edison by 21.2% in the third quarter. Fulcrum Asset Management LLP now owns 34,971 shares of the utilities provider’s stock valued at $3,515,000 after acquiring an additional 6,119 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Consolidated Edison during the 3rd quarter valued at $5,189,000. Center For Asset Management LLC increased its holdings in Consolidated Edison by 6.8% during the 3rd quarter. Center For Asset Management LLC now owns 4,732 shares of the utilities provider’s stock valued at $476,000 after purchasing an additional 302 shares in the last quarter. Captrust Financial Advisors raised its position in Consolidated Edison by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 44,902 shares of the utilities provider’s stock valued at $4,514,000 after purchasing an additional 245 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its stake in Consolidated Edison by 44.0% in the third quarter. Coldstream Capital Management Inc. now owns 10,024 shares of the utilities provider’s stock worth $1,008,000 after purchasing an additional 3,061 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Company Profile

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.