Consolidated Edison (NYSE:ED) Price Target Lowered to $97.00 at JPMorgan Chase & Co.

by · The Markets Daily

Consolidated Edison (NYSE:ED – Get Free Report) had its price target dropped by analysts at JPMorgan Chase & Co. from $101.00 to $97.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.76% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Barclays lowered their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Wells Fargo & Company raised Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday. Evercore ISI initiated coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. Finally, New Street Research set a $106.00 price target on shares of Consolidated Edison in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of “Reduce” and an average price target of $103.69.

Get Our Latest Stock Analysis on ED

Consolidated Edison Trading Up 2.2%

NYSE ED traded up $2.10 on Friday, hitting $97.74. 1,611,619 shares of the company were exchanged, compared to its average volume of 2,551,407. Consolidated Edison has a twelve month low of $87.28 and a twelve month high of $114.87. The company’s 50 day moving average price is $99.32 and its 200-day moving average price is $100.19. The firm has a market capitalization of $35.28 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.37. 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 quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period in the prior year, the firm posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently modified their holdings of ED. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after buying an additional 134,122 shares during the period. State Street Corp lifted its position in Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock worth $2,417,563,000 after acquiring an additional 63,346 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Consolidated Edison by 6.1% during the second quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. Lazard Asset Management LLC grew its position in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after purchasing an additional 48,323 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

(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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