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

Consolidated Edison Inc (NYSE:ED) has been given an average rating of “Reduce” by the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $107.7857.

Several analysts recently commented on ED shares. Bank of America reissued an “underperform” rating and set a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday, February 25th. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. KeyCorp upped their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. TD Cowen upped their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Consolidated Edison

Several institutional investors have recently made changes to their positions in ED. Revolve Wealth Partners LLC lifted its stake in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC lifted its stake in shares of Consolidated Edison by 42.1% in the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP raised its stake in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after acquiring an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Consolidated Edison during the 2nd quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. raised its stake in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 1.2%

NYSE:ED opened at $107.07 on Thursday. The firm’s 50-day moving average price is $108.15 and its 200-day moving average price is $106.64. The company has a market capitalization of $39.46 billion, a PE ratio of 18.03, a P/E/G ratio of 2.75 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. Consolidated Edison has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict that Consolidated Edison will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is 59.76%.

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.