Consolidated Edison Inc (NYSE:ED) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Consolidated Edison Inc has received a consensus recommendation of "Hold" from analysts, with three sell, six hold, and three buy ratings.
• The average 12-month target price among analysts for Consolidated Edison is approximately $105.82, reflecting various adjustments from recent reports.
• The company recently declared a quarterly dividend of $0.85 per share, providing an annual yield of about 3.4% and confirming a dividend payout ratio of 61.71%.

Shares of Consolidated Edison Inc (NYSE:ED - Get Free Report) have earned an average recommendation of "Hold" from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $105.8182.

Several equities analysts have weighed in on ED shares. Guggenheim raised their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Mizuho increased their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Morgan Stanley decreased their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Barclays boosted their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company increased their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd.

Institutional Investors Weigh In On Consolidated Edison

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at $462,218,000. ATLAS Infrastructure Partners UK Ltd. purchased a new stake in Consolidated Edison during the first quarter worth about $254,205,000. Deutsche Bank AG increased its stake in Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock worth $434,266,000 after buying an additional 2,223,959 shares during the period. Vanguard Group Inc. increased its stake in Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider's stock worth $4,519,845,000 after buying an additional 1,923,717 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock worth $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.3%

Shares of ED stock opened at $101.4540 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market capitalization of $36.59 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.83 and a beta of 0.24. The firm's 50 day moving average is $101.59 and its 200 day moving average is $103.66.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The business had revenue of $3.60 billion during the quarter, compared to analysts' expectations of $3.39 billion. During the same period in the prior year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts expect that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

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.

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