Consolidated Edison (NYSE:ED) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Consolidated Edison (NYSE:ED) to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Several other research firms also recently commented on ED. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Barclays reduced 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 report on Monday, November 10th. UBS Group upped their price objective on shares of Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI began coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $103.43.

Consolidated Edison Price Performance

ED stock opened at $100.13 on Tuesday. The stock has a market capitalization of $36.14 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.39. The company’s 50-day moving average is $98.84 and its 200-day moving average is $99.75. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. Consolidated Edison has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS 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 period in the previous year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts expect that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were issued a $0.85 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Consolidated Edison

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares during the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $462,218,000. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after acquiring an additional 1,923,717 shares during the period. AQR Capital Management LLC boosted its position in Consolidated Edison by 104.6% in the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after purchasing an additional 974,419 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in Consolidated Edison by 2,190.9% in the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock worth $98,158,000 after purchasing an additional 935,463 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

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.