Consolidated Edison Inc (NYSE:ED) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Consolidated Edison received a consensus “Reduce” rating from 15 analysts: six sell ratings, six holds, and three buys. The average 12-month price target is $108.67.
• Institutional investors and hedge funds own 66.29% of the company. Recent analyst actions were mixed, with KeyCorp and Morgan Stanley lowering targets while Mizuho and Weiss Ratings remained more positive.
• Con Edison exceeded quarterly earnings expectations, reporting $0.83 in EPS versus a $0.76 estimate and $4.07 billion in revenue. The company also pays an annualized dividend of $3.55 per share, yielding about 3.4%.

Consolidated Edison Inc (NYSE:ED - Get Free Report) has been given a consensus recommendation of "Reduce" by the fifteen research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $108.67.

ED has been the subject of a number of research reports. KeyCorp lowered their target price on 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 objective on Consolidated Edison in a research report on Monday, July 27th. Morgan Stanley decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating for the company in a report on Friday, September 18th. Wells Fargo & Company lifted their target price on Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently modified their holdings of the business. Basepoint Wealth LLC bought a new position in Consolidated Edison during the 4th quarter worth $26,000. Sachetta LLC grew its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 102 shares in the last quarter. Aberdeen Wealth Management LLC acquired a new position in shares of Consolidated Edison in the second quarter valued at about $27,000. Keating Financial Advisory Services Inc. bought a new position in Consolidated Edison during the second quarter worth about $30,000. Finally, Godfrey Financial Associates Inc. bought a new position in Consolidated Edison during the fourth quarter worth about $32,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED stock opened at $103.00 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. Consolidated Edison has a 52 week low of $94.96 and a 52 week high of $116.23. The company's 50 day moving average price is $107.83 and its two-hundred day moving average price is $109.13. The company has a market capitalization of $38.09 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 3.56 and a beta of 0.27.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company 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 company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts expect that Consolidated Edison will post 6.1 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th were given a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is 58.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.