Consolidated Edison (NYSE:ED) Given New $105.00 Price Target at Morgan Stanley

Consolidated Edison (NYSE:ED) had its target price trimmed by Morgan Stanley from $106.00 to $105.00 in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Several other research analysts have also commented on ED. Bank of America reissued an “underperform” rating and issued a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. UBS Group raised their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. KeyCorp boosted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Mizuho set a $118.00 price target on shares of Consolidated Edison in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and an average price target of $108.50.

Consolidated Edison Price Performance

NYSE ED opened at $108.24 on Tuesday. The company has a market cap of $39.88 billion, a PE ratio of 19.16, a P/E/G ratio of 2.79 and a beta of 0.34. The firm’s 50 day moving average price is $112.15 and its 200-day moving average price is $104.68. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. Consolidated Edison has a 52-week low of $94.96 and a 52-week high of $116.23.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. Consolidated Edison’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison will post 6.07 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is currently 62.83%.

Insider Buying and Selling at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Consolidated Edison

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. boosted its holdings in Consolidated Edison by 29.7% in the first quarter. Wesbanco Bank Inc. now owns 9,908 shares of the utilities provider’s stock worth $1,121,000 after acquiring an additional 2,270 shares in the last quarter. Corecam AG acquired a new position in shares of Consolidated Edison during the first quarter valued at about $259,000. Louisiana State Employees Retirement System purchased a new position in shares of Consolidated Edison in the 1st quarter valued at approximately $2,083,000. Kestra Private Wealth Services LLC raised its position in shares of Consolidated Edison by 1.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,260,000 after purchasing an additional 180 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Consolidated Edison by 18.9% in the 1st quarter. Ritholtz Wealth Management now owns 4,381 shares of the utilities provider’s stock worth $496,000 after purchasing an additional 697 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

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.