KeyCorp Increases Earnings Estimates for Consolidated Edison

Key Points

• KeyCorp raised Consolidated Edison’s Q4 2026 EPS estimate to $1.04 from $0.62, while maintaining an Underweight rating and an $87 price target. The estimate remains below the company’s FY 2026 guidance range of $6.00–$6.20 per share.
• Con Edison recently exceeded quarterly expectations, reporting $0.83 EPS versus the $0.76 consensus and revenue of $4.07 billion versus $3.60 billion expected.
• Analyst sentiment remains cautious: the stock has an average MarketBeat rating of Reduce and a consensus price target of $107.73, while several firms have recently lowered their targets amid regulatory risks and limited perceived upside.

Consolidated Edison Inc (NYSE:ED - Free Report) - KeyCorp raised their Q4 2026 earnings per share estimates for Consolidated Edison in a report released on Monday, October 12th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $1.04 per share for the quarter, up from their prior estimate of $0.62. KeyCorp has an "Underweight" rating and a $87.00 price objective on the stock. The consensus estimate for Consolidated Edison's current full-year earnings is $6.10 per share.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS.

ED has been the topic of a number of other research reports. Jefferies Financial Group reiterated a "hold" rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Tuesday, October 6th. Barclays cut their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating on the stock in a research report on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Consolidated Edison in a research note on Tuesday, July 21st. Morgan Stanley decreased their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an "underweight" rating for the company in a report on Friday, September 18th. Finally, Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison has an average rating of "Reduce" and a consensus price target of $107.73.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $109.50 on Thursday. Consolidated Edison has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The business has a fifty day moving average price of $106.37 and a 200-day moving average price of $108.47. The company has a market capitalization of $40.50 billion, a PE ratio of 17.98, a PEG ratio of 3.73 and a beta of 0.26.

Institutional Trading of Consolidated Edison

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Consolidated Edison in the second quarter worth about $4,609,491,000. Lazard Asset Management LLC lifted its position in shares of Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock worth $800,843,000 after buying an additional 910,244 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Consolidated Edison in the second quarter worth about $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Consolidated Edison by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider's stock worth $536,298,000 after buying an additional 353,000 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Consolidated Edison during the second quarter valued at approximately $494,352,000. Institutional investors own 66.29% of the company's stock.

Key Stories Impacting Consolidated Edison

Here are the key news stories impacting Consolidated Edison this week:

• Positive Sentiment: Con Edison is expanding grid capacity in New York. A Bronx facility is receiving a $47.3 million capacity upgrade, supporting reliability and potentially enabling long-term rate-base growth. Bronx substation capacity upgrade article
• Neutral Sentiment: Con Edison will release third-quarter 2026 results after the market closes on November 5. Investors will focus on earnings versus the revised $2.05-per-share estimate, regulatory developments and management’s full-year outlook. Con Edison third-quarter 2026 earnings announcement
• Neutral Sentiment: KeyCorp modestly raised its long-term EPS forecasts for 2027 through 2030, including a projection of $7.87 for 2030. However, the firm maintained an Underweight rating and an $87 price target, limiting the positive impact of the estimate increases. KeyCorp Consolidated Edison analyst estimates
• Negative Sentiment: Goldman Sachs reduced its price target to $102 from $106, while KeyBanc separately cut its target to $87 from $94. The revisions suggest analysts see limited near-term upside relative to the recent share price. Goldman Sachs price-target revision KeyBanc price-target revision
• Negative Sentiment: KeyCorp lowered its third-quarter EPS forecast to $2.05 from $2.24 and continues to rate ED Underweight. Separately, New York City officials are challenging Con Edison’s bill and rate plans, raising regulatory and political risks to future revenue and allowed returns. New York City challenge to Con Edison bill plan

Consolidated Edison Company Profile

Consolidated Edison, Inc is an energy delivery 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.

Consolidated Edison also owns Orange and Rockland Utilities, Inc, which delivers electricity and natural gas in parts of southeastern New York, northern New Jersey and northeastern Pennsylvania. Its utility operations include the generation, transmission, distribution and delivery of energy, as well as the operation and maintenance of related infrastructure.

With roots tracing to the New York Gas Light Company, established in 1823, Consolidated Edison has developed into one of the United States' largest investor-owned energy-delivery companies.

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