Consolidated Edison Inc (NYSE:ED) Receives $108.71 Average Price Target from Analysts

Consolidated Edison Inc (NYSE:ED) has earned a consensus recommendation of “Reduce” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $108.7143.

Several brokerages recently commented on ED. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday, May 11th. Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. TD Cowen increased their price target on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Finally, Barclays reduced their price objective on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th.

Consolidated Edison Stock Down 1.6%

Shares of Consolidated Edison stock opened at $106.31 on Friday. Consolidated Edison has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The stock’s 50-day moving average is $109.92 and its 200 day moving average is $106.10. The firm has a market cap of $39.18 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.74 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison will post 6.09 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president directly owned 32,453 shares in the company, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ED. Sachetta LLC raised its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison in the third quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at $26,000. Aventura Private Wealth LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at $27,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Consolidated Edison in the fourth quarter valued at $27,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

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.