Recent Investment Analysts’ Ratings Changes for Consolidated Edison (ED)

Several brokerages have updated their recommendations and price targets on shares of Consolidated Edison (NYSE: ED) in the last few weeks:

• 9/6/2023 – Consolidated Edison had its price target lowered by analysts at Royal Bank of Canada from $97.00 to $92.00. They now have a “sector perform” rating on the stock.
• 9/5/2023 – Consolidated Edison had its price target lowered by analysts at Mizuho from $95.00 to $88.00. They now have a “neutral” rating on the stock.
• 8/23/2023 – Consolidated Edison had its price target lowered by analysts at Morgan Stanley from $74.00 to $73.00. They now have an “underweight” rating on the stock.
• 8/23/2023 – Consolidated Edison is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $88.00 price target on the stock.
• 8/17/2023 – Consolidated Edison is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/16/2023 – Consolidated Edison had its price target lowered by analysts at Bank of America Co. from $103.00 to $96.00. They now have a “buy” rating on the stock.
• 8/4/2023 – Consolidated Edison had its price target lowered by analysts at Wells Fargo & Company from $102.00 to $96.00. They now have an “underweight” rating on the stock.
• 7/21/2023 – Consolidated Edison had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $74.00 price target on the stock, up previously from $73.00.
• 7/21/2023 – Consolidated Edison had its price target raised by analysts at Mizuho from $92.00 to $95.00. They now have a “neutral” rating on the stock.
• 7/21/2023 – Consolidated Edison was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $103.00 price target on the stock, up previously from $92.00.
• 7/19/2023 – Consolidated Edison had its price target raised by analysts at KeyCorp from $70.00 to $77.00.

Consolidated Edison Trading Up 1.0 %

Shares of Consolidated Edison stock traded up $0.87 during trading on Wednesday, hitting $91.07. The stock had a trading volume of 543,655 shares, compared to its average volume of 1,811,772. Consolidated Edison, Inc. has a 12 month low of $78.10 and a 12 month high of $100.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.02 and a quick ratio of 0.95. The firm’s fifty day simple moving average is $91.37 and its 200-day simple moving average is $93.56. The stock has a market cap of $31.41 billion, a PE ratio of 13.10, a PEG ratio of 9.02 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.31 billion. Consolidated Edison had a return on equity of 8.27% and a net margin of 15.84%. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 4.9 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, August 15th. This represents a $3.24 annualized dividend and a yield of 3.56%. Consolidated Edison’s payout ratio is currently 46.62%.

Institutional Trading of Consolidated Edison

A number of hedge funds have recently added to or reduced their stakes in ED. Dark Forest Capital Management LP purchased a new position in shares of Consolidated Edison in the 4th quarter valued at $25,000. Retirement Group LLC grew its stake in Consolidated Edison by 74.8% in the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Missouri Trust & Investment Co bought a new position in Consolidated Edison in the second quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the first quarter valued at about $28,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $28,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.6 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.