Consolidated Edison Inc (NYSE:ED) Receives $103.53 Consensus Target Price from Analysts

Consolidated Edison Inc (NYSE:ED) has earned a consensus recommendation of “Reduce” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $103.5333.

Several brokerages have weighed in on ED. TD Cowen initiated coverage on shares of Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. UBS Group boosted their price target on Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Evercore ISI started coverage on shares of Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Finally, New Street Research set a $106.00 target price on shares of Consolidated Edison in a research note on Monday, October 6th.

Insiders Place Their Bets

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Consolidated Edison

Institutional investors have recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new stake in Consolidated Edison during the third quarter valued at approximately $26,000. Aventura Private Wealth LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Westfuller Advisors LLC acquired a new stake in Consolidated Edison during the fourth quarter worth about $27,000. Dorato Capital Management purchased a new position in shares of Consolidated Edison during the 4th quarter valued at approximately $28,000. Finally, Salomon & Ludwin LLC increased its holdings in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $103.82 on Monday. Consolidated Edison has a 12 month low of $90.35 and a 12 month high of $114.87. The firm’s 50 day moving average is $99.58 and its 200 day moving average is $99.89. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $37.47 billion, a P/E ratio of 18.15, a PEG ratio of 2.87 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts anticipate that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Company Profile

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.