Morgan Stanley Has Lowered Expectations for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its target price dropped by analysts at Morgan Stanley from $105.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential downside of 5.90% from the company’s previous close.

ED has been the subject of several other reports. KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research report on Thursday, July 23rd. Mizuho set a $114.00 target price on Consolidated Edison in a research report on Monday, July 27th. Barclays cut their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Evercore reiterated a “positive” rating and set a $112.00 price target on shares of Consolidated Edison in a research report on Monday. Finally, Wells Fargo & Company increased their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Stock Performance

Shares of ED traded down $0.98 during mid-day trading on Friday, hitting $107.33. The stock had a trading volume of 313,858 shares, compared to its average volume of 2,248,868. Consolidated Edison has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $39.69 billion, a PE ratio of 17.62, a PEG ratio of 2.80 and a beta of 0.27. The company’s fifty day simple moving average is $109.99 and its two-hundred day simple moving average is $109.91.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same quarter in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts expect that Consolidated Edison will post 6.09 earnings per share for the current year.

Institutional Investors Weigh In On Consolidated Edison

A number of large investors have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new position in Consolidated Edison in the 4th quarter valued at $26,000. JPL Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter worth $26,000. Sachetta LLC lifted its position in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new position in Consolidated Edison during the 2nd quarter worth $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Consolidated Edison during the second quarter valued at about $30,000. Institutional investors own 66.29% of the company’s stock.

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.