Morgan Stanley Cuts Consolidated Edison (NYSE:ED) Price Target to $97.00

Key Points

• Morgan Stanley lowered Consolidated Edison’s price target from $101 to $97 and maintained an “underweight” rating, implying 8.8% downside from the prior close.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $108.67; ratings include three Buys, six Holds, and six Sells.
• Con Edison exceeded quarterly expectations, reporting $0.83 in EPS versus the $0.76 consensus and revenue of $4.07 billion versus $3.60 billion expected. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison (NYSE:ED - Get Free Report) had its price target dropped by Morgan Stanley from $101.00 to $97.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's target price points to a potential downside of 8.80% from the company's previous close.

Other research analysts have also issued reports about the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Evercore reissued a "positive" rating and set a $112.00 target price on shares of Consolidated Edison in a research report on Monday, August 17th. KeyCorp decreased their price target on shares of Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a report on Thursday, July 23rd. Mizuho set a $114.00 price target on Consolidated Edison in a research report on Monday, July 27th. Finally, Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of "Reduce" and an average price target of $108.67.

Consolidated Edison Stock Down 0.7%

ED opened at $106.36 on Friday. The business has a 50 day moving average price of $108.80 and a 200 day moving average price of $109.47. Consolidated Edison has a twelve month low of $94.96 and a twelve month high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The firm has a market cap of $39.33 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 3.65 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $3.60 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts forecast that Consolidated Edison will post 6.1 EPS for the current year.

Institutional Investors Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $4,609,491,000. Lazard Asset Management LLC raised its position in Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock worth $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Deutsche Bank AG bought a new position in Consolidated Edison during the second quarter worth about $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Consolidated Edison by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider's stock worth $536,298,000 after purchasing an additional 353,000 shares during the period. Finally, Legal & General Group Plc bought a new position in Consolidated Edison during the second quarter worth about $494,352,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery holding company headquartered in New York. Through its principal subsidiary, Consolidated Edison Company of New York, Inc, the company provides electric, natural gas and steam service to customers in New York City and Westchester County, New York.

Con Edison also operates Orange and Rockland Utilities, Inc, which supplies electric and natural gas service in parts of southeastern New York and northern New Jersey. Its utility operations include the generation, transmission and distribution of energy, as well as the maintenance of the infrastructure required to serve residential, commercial and industrial customers.

The company traces its roots to energy businesses that began operating in New York during the 19th century and adopted the Consolidated Edison name in the 1930s.

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