Consolidated Edison (NYSE:ED) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Consolidated Edison has received a "buy (B-)" rating from Weiss Ratings, with four other analysts also rating the stock as a Buy.
• The company's stock price recently increased, trading at $100.28 with a consensus target price of $105.92.
• Consolidated Edison reported quarterly earnings of $0.67 EPS, exceeding estimates, and had a revenue of $3.60 billion, again surpassing expectations.

Consolidated Edison (NYSE:ED - Get Free Report)'s stock had its "buy (b-)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on the company. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley reduced their price target on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating for the company in a report on Thursday, September 25th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and reduced their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Evercore ISI initiated coverage on Consolidated Edison in a report on Tuesday. They issued an "in-line" rating and a $106.00 target price for the company. Finally, New Street Research set a $106.00 target price on Consolidated Edison in a report on Monday. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $105.92.

Consolidated Edison Trading Up 0.2%

ED traded up $0.24 during trading on Wednesday, reaching $100.28. The company had a trading volume of 301,788 shares, compared to its average volume of 2,654,099. The firm's 50-day simple moving average is $99.87 and its 200 day simple moving average is $103.15. The company has a market cap of $36.16 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.76 and a beta of 0.32. Consolidated Edison has a 12-month low of $87.28 and a 12-month 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.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.39 billion. During the same quarter last year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities research analysts anticipate that Consolidated Edison will post 5.62 earnings per share for the current year.

Institutional Trading of Consolidated Edison

A number of large investors have recently bought and sold shares of the stock. RDA Financial Network grew its position in Consolidated Edison by 5.2% in the third quarter. RDA Financial Network now owns 3,852 shares of the utilities provider's stock valued at $387,000 after acquiring an additional 192 shares during the period. Wedmont Private Capital grew its position in Consolidated Edison by 13.5% in the third quarter. Wedmont Private Capital now owns 12,246 shares of the utilities provider's stock valued at $1,225,000 after acquiring an additional 1,453 shares during the period. Czech National Bank grew its position in Consolidated Edison by 4.0% in the third quarter. Czech National Bank now owns 91,599 shares of the utilities provider's stock valued at $9,208,000 after acquiring an additional 3,530 shares during the period. Montecito Bank & Trust bought a new stake in Consolidated Edison in the third quarter valued at $211,000. Finally, Canandaigua National Bank & Trust Co. grew its position in Consolidated Edison by 33.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 3,003 shares of the utilities provider's stock valued at $302,000 after acquiring an additional 750 shares during the period. 66.29% of the stock is currently owned by institutional investors.

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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