Consolidated Edison Inc (NYSE:ED) Given Average Recommendation of “Reduce” by Brokerages

by · The Cerbat Gem

Shares of Consolidated Edison Inc (NYSE:ED – Get Free Report) have been assigned an average rating of “Reduce” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $104.5833.

Several analysts have recently weighed in on ED shares. KeyCorp boosted their price objective on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday. Mizuho upped their price objective 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. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Scotiabank boosted their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th.

Get Our Latest Stock Report on Consolidated Edison

Consolidated Edison Stock Down 0.3%

Shares of NYSE ED opened at $96.19 on Friday. The business has a 50-day moving average of $99.65 and a two-hundred day moving average of $100.50. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 2.80 and a beta of 0.37. Consolidated Edison has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED – Get Free Report) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same quarter last year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Institutional Trading of Consolidated Edison

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPL Wealth Management LLC purchased a new position in Consolidated Edison during the 3rd quarter worth $26,000. Salomon & Ludwin LLC boosted its stake in shares of Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Consolidated Edison during the third quarter worth about $32,000. Finally, Financial Network Wealth Advisors LLC acquired a new position in Consolidated Edison in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

About Consolidated Edison

(Get Free Report)

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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