KeyCorp Raises Consolidated Edison (NYSE:ED) Price Target to $96.00

Consolidated Edison (NYSE:ED) had its price target hoisted by stock analysts at KeyCorp from $86.00 to $96.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. KeyCorp’s target price points to a potential downside of 13.34% from the company’s previous close.

Several other brokerages have also issued reports on ED. TD Cowen boosted their target price on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. dropped 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. UBS Group boosted their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Finally, Barclays upped their price target on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. Three equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $107.73.

Consolidated Edison Stock Down 1.5%

NYSE ED opened at $110.78 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. Consolidated Edison has a 52 week low of $94.96 and a 52 week high of $115.25. The firm has a market capitalization of $40.02 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 3.02 and a beta of 0.38. The company has a fifty day moving average of $106.01 and a two-hundred day moving average of $101.41.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts predict that Consolidated Edison will post 5.62 earnings per share for the current year.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the firm’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 owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Consolidated Edison

Several institutional investors have recently bought and sold shares of ED. Lazard Asset Management LLC boosted its position in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison during the 4th quarter worth $489,806,000. Vanguard Group Inc. boosted its position 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 valued at $4,519,845,000 after purchasing an additional 1,923,717 shares in the last quarter. Deutsche Bank AG boosted its position in Consolidated Edison by 101.4% during the fourth quarter. Deutsche Bank AG now owns 3,617,361 shares of the utilities provider’s stock valued at $359,276,000 after purchasing an additional 1,820,877 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Consolidated Edison in the fourth quarter valued at about $113,977,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

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.