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

Key Points

• Consolidated Edison Inc has received an average analyst recommendation of "Hold" from twelve analysts, with varying ratings including three sell, five hold, and four buy ratings.
• The company's most recent quarterly earnings report showed an EPS of $0.67, surpassing expectations, and revenue of $3.60 billion, which also exceeded analyst forecasts.
• Consolidated Edison recently declared a quarterly dividend of $0.85 per share, resulting in an annualized dividend yield of 3.3% and a payout ratio of 61.71%.

Consolidated Edison Inc (NYSE:ED - Get Free Report) has been given an average recommendation of "Hold" by the twelve analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $105.75.

A number of analysts have recently issued reports on the company. Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday. They issued an "in-line" rating and a $106.00 price objective for the company. Barclays raised their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and cut their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. New Street Research set a $106.00 price objective on Consolidated Edison in a research report on Monday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Consolidated Edison in a research report on Wednesday.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $102.36 on Friday. The stock has a 50 day moving average price of $99.73 and a 200 day moving average price of $103.06. Consolidated Edison has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a market capitalization of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.80 and a beta of 0.32.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm 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 firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 61.71%.

Institutional Trading of Consolidated Edison

Several hedge funds have recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC lifted its holdings in Consolidated Edison by 3.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 4,831 shares of the utilities provider's stock worth $486,000 after purchasing an additional 172 shares during the last quarter. Trust Point Inc. lifted its holdings in Consolidated Edison by 16.0% during the 3rd quarter. Trust Point Inc. now owns 3,001 shares of the utilities provider's stock worth $302,000 after purchasing an additional 414 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in Consolidated Edison by 2.2% during the 3rd quarter. Flputnam Investment Management Co. now owns 21,876 shares of the utilities provider's stock worth $2,199,000 after purchasing an additional 473 shares during the last quarter. Lionshead Wealth Management LLC lifted its holdings in Consolidated Edison by 32.2% during the 3rd quarter. Lionshead Wealth Management LLC now owns 2,677 shares of the utilities provider's stock worth $269,000 after purchasing an additional 652 shares during the last quarter. Finally, Meadowbrook Wealth Management LLC acquired a new stake in Consolidated Edison during the 3rd quarter worth approximately $461,000. 66.29% of the stock is owned by institutional investors and hedge funds.

About Consolidated Edison

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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