Consolidated Edison (NYSE:ED) Stock Rating Upgraded by Royal Bank Of Canada

Consolidated Edison (NYSE:ED) was upgraded by equities researchers at Royal Bank Of Canada to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Morgan Stanley set a $92.00 price objective on shares of Consolidated Edison in a research report on Tuesday, December 16th. Barclays decreased their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. KeyCorp dropped their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Evercore ISI began coverage on Consolidated Edison in a research note on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Finally, 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 research report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $103.43.

Consolidated Edison Price Performance

ED stock opened at $99.41 on Tuesday. The company has a market capitalization of $35.88 billion, a P/E ratio of 17.38, a PEG ratio of 2.71 and a beta of 0.39. Consolidated Edison has a twelve month low of $87.28 and a twelve month high of $114.87. The business has a 50 day simple moving average of $98.80 and a 200-day simple moving average of $99.74. 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 (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts anticipate that Consolidated Edison will post 5.62 EPS for the current year.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Consolidated Edison

Several hedge funds have recently modified their holdings of ED. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth $26,000. Aventura Private Wealth LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at $27,000. Salomon & Ludwin LLC boosted its position in shares of Consolidated Edison by 270.4% during 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 in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares in the last quarter. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $32,000. 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.