Analysts Set Consolidated Edison Inc (NYSE:ED) PT at $102.54

Consolidated Edison Inc (NYSE:ED) has been assigned an average rating of “Reduce” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $102.5385.

Several analysts have issued reports on ED shares. Barclays cut their price objective on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. dropped their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. New Street Research set a $106.00 price objective on Consolidated Edison in a research note on Monday, October 6th. UBS Group decreased their price objective on shares of Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, Morgan Stanley set a $92.00 target price on shares of Consolidated Edison in a report on Tuesday, December 16th.

Insider Buying and Selling

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth $26,000. Salomon & Ludwin LLC increased its holdings in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the period. Turning Point Benefit Group Inc. bought a new stake in Consolidated Edison in the 3rd quarter valued at about $32,000. Finally, Bogart Wealth LLC boosted its stake in Consolidated Edison by 886.5% during the 2nd quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.3%

Shares of NYSE:ED opened at $99.27 on Thursday. The firm has a market cap of $35.83 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.87 and a beta of 0.37. The company has a fifty day simple moving average of $98.93 and a 200 day simple moving average of $99.88. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data 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. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same period last year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were issued a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.