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

Consolidated Edison Inc (NYSE:ED) has been given a consensus recommendation of “Reduce” by the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $107.7333.

ED has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. UBS Group boosted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Bank of America reiterated an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Finally, KeyCorp lifted their target price on Consolidated Edison from $86.00 to $96.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 4th.

Consolidated Edison Price Performance

ED stock opened at $111.89 on Tuesday. The stock has a market cap of $40.42 billion, a PE ratio of 19.80, a P/E/G ratio of 3.02 and a beta of 0.38. Consolidated Edison has a 12 month low of $94.96 and a 12 month high of $115.25. The company has a 50-day moving average price of $106.53 and a 200 day moving average price of $101.57. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $3.99 billion for 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 firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.2%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is 62.83%.

Insiders Place Their Bets

In other Consolidated Edison 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 value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Consolidated Edison by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after purchasing an additional 8,562 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Consolidated Edison by 3.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after purchasing an additional 29,606 shares in the last quarter. Nuance Investments LLC purchased a new position in Consolidated Edison during the third quarter valued at approximately $4,017,000. Finally, Caprock Group LLC purchased a new position in Consolidated Edison during the third quarter valued at approximately $2,586,000. 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.