Consolidated Edison (NYSE:ED) Hits New 12-Month High After Analyst Upgrade

Consolidated Edison Inc (NYSE:ED) reached a new 52-week high on Friday after JPMorgan Chase & Co. raised their price target on the stock from $107.00 to $113.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Consolidated Edison traded as high as $115.36 and last traded at $115.2510, with a volume of 588824 shares trading hands. The stock had previously closed at $113.13.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $118.00 price target on Consolidated Edison in a research report on Monday, February 23rd. KeyCorp lifted their price objective on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a report on Wednesday, March 4th. UBS Group upped their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Wells Fargo & Company reduced their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average target price of $108.80.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Consolidated Edison

Hedge funds have recently modified their holdings of the company. Basepoint Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth about $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $27,000. Finally, Dorato Capital Management bought a new position in Consolidated Edison in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.5%

The business’s fifty day moving average is $107.57 and its 200-day moving average is $101.90. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a market cap of $41.49 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 3.04 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last posted its earnings results 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 firm had revenue of $4 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 company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

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.