Consolidated Edison (NYSE:ED) Coverage Initiated at Royal Bank Of Canada

Equities researchers at Royal Bank Of Canada assumed coverage on shares of Consolidated Edison (NYSE:ED) in a research note issued to investors on Wednesday. The brokerage set a “sector perform” rating and a $114.00 price target on the utilities provider’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 14.83% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. New Street Research set a $106.00 target price on Consolidated Edison in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Barclays decreased their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Morgan Stanley set a $92.00 price target on shares of Consolidated Edison in a research report on Tuesday, December 16th. Finally, Evercore ISI started coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target on the stock. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison has a consensus rating of “Reduce” and a consensus target price of $103.43.

Consolidated Edison Stock Performance

NYSE ED traded down $0.04 on Wednesday, reaching $99.28. 191,831 shares of the company’s stock traded hands, compared to its average volume of 1,333,403. The firm has a market cap of $35.83 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.69 and a beta of 0.39. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a 50 day moving average price of $98.75 and a 200-day moving average price of $99.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share 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 analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the previous year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts predict that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction 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. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Consolidated Edison

Several hedge funds have recently modified their holdings of ED. JPL Wealth Management LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC raised 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 purchasing an additional 219 shares during the period. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $32,000. Finally, Bogart Wealth LLC boosted its position in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

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.