Consolidated Edison (NYSE:ED) Now Covered by Analysts at Evercore ISI

Research analysts at Evercore ISI began coverage on shares of Consolidated Edison (NYSE:ED) in a report released on Tuesday,Benzinga reports. The brokerage set an “in-line” rating and a $106.00 price target on the utilities provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.77% from the company’s current price.

Several other brokerages have also recently issued reports on ED. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research note on Saturday, September 27th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $105.92.

Consolidated Edison Stock Performance

Shares of ED opened at $99.28 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The stock has a market capitalization of $35.81 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.75 and a beta of 0.32. The company’s fifty day moving average is $99.91 and its two-hundred day moving average is $103.17. Consolidated Edison has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts predict that Consolidated Edison will post 5.62 earnings per share for the current year.

Institutional Investors Weigh In On Consolidated Edison

Large investors have recently added to or reduced their stakes in the business. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison in the 1st quarter valued at about $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at about $33,000. Financial Network Wealth Advisors LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 120 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Company Profile

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 3.7 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.