Analysts Set Consolidated Edison Inc (NYSE:ED) Price Target at $105.08

Consolidated Edison Inc (NYSE:ED) has received an average recommendation of “Reduce” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $104.75.

ED has been the topic of several recent analyst reports. KeyCorp boosted their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Evercore ISI initiated 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 on the stock. Scotiabank raised their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Barclays dropped their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday, October 6th.

Institutional Trading of Consolidated Edison

Several institutional investors and hedge funds have recently made changes to their positions in ED. Financial Network Wealth Advisors LLC purchased a new position in shares of Consolidated Edison during the 1st quarter valued at about $33,000. Salomon & Ludwin LLC raised its stake in shares of Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 120 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. Finally, Bogart Wealth LLC boosted its stake in shares of Consolidated Edison by 886.5% in the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $99.53 on Wednesday. The business has a fifty day moving average price of $98.79 and a two-hundred day moving average price of $101.34. The stock has a market capitalization of $35.90 billion, a PE ratio of 18.06, a P/E/G ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the previous year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.