Consolidated Edison (NYSE:ED) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Consolidated Edison (NYSE:ED) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage issued an in-line rating and a $106.00 price objective on the utilities provider’s stock.

A number of other equities analysts have also commented on ED. Barclays raised their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Mizuho increased their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Morgan Stanley cut their price target on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Saturday, September 27th. Finally, Scotiabank lifted their target price 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. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $105.92.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $100.02 on Tuesday. The firm has a market cap of $36.07 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.76 and a beta of 0.32. The firm’s 50 day simple moving average is $99.87 and its 200-day simple moving average is $103.15. 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 quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a $0.85 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is 61.71%.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds have recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter worth approximately $32,000. Capital Advisors Ltd. LLC raised its holdings in shares of Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Fort Vancouver Investment Management LLC acquired a new stake in shares of Consolidated Edison during the first quarter worth $33,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison during the first quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

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.