Consolidated Edison (NYSE:ED) Raised to "Hold" at Evercore ISI

Key Points

• Consolidated Edison has been upgraded to a "hold" rating by Evercore ISI, reflecting a shift in analysts' sentiment regarding the utility's stock performance.
• Recent analysts' evaluations have varied, with Scotiabank raising its price target to $106.00, while Bank of America downgraded the stock from "buy" to "underperform", lowering its price target to $101.00.
• The company reported a quarterly EPS of $0.67, outperforming consensus estimates, and announced a fiscal year 2025 guidance of 5.500-5.700 EPS.

Consolidated Edison (NYSE:ED - Get Free Report) was upgraded by analysts at Evercore ISI to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Scotiabank lifted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Bank of America downgraded Consolidated Edison from a "buy" rating to an "underperform" rating and cut their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of Consolidated Edison in a research note on Saturday, September 27th. KeyCorp reissued an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Mizuho boosted their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of "Hold" and an average price target of $105.92.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $100.02 on Monday. Consolidated Edison has a one year low of $87.28 and a one year 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 business has a fifty day moving average of $99.87 and a two-hundred day moving average of $103.15. The company has a market cap of $36.07 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.76 and a beta of 0.32.

Consolidated Edison (NYSE:ED - Get Free Report) last released 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 return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Institutional Trading of Consolidated Edison

A number of institutional investors have recently modified their holdings of the company. Montecito Bank & Trust purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth about $211,000. Canandaigua National Bank & Trust Co. grew its holdings in shares of Consolidated Edison by 33.3% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 3,003 shares of the utilities provider's stock worth $302,000 after purchasing an additional 750 shares during the period. AssuredPartners Investment Advisors LLC grew its holdings in shares of Consolidated Edison by 124.0% during the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 6,193 shares of the utilities provider's stock worth $622,000 after purchasing an additional 3,428 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of Consolidated Edison by 97.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 16,960 shares of the utilities provider's stock worth $1,705,000 after purchasing an additional 8,377 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Consolidated Edison by 3.9% during the 3rd quarter. GAMMA Investing LLC now owns 12,191 shares of the utilities provider's stock worth $1,225,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

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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