Analysts Set Consolidated Edison Inc (NYSE:ED) Target Price at $108.71

Shares of Consolidated Edison Inc (NYSE:ED) have been given an average rating of “Reduce” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $108.7143.

ED has been the subject of several research reports. Evercore set a $116.00 target price on shares of Consolidated Edison in a research report on Monday, May 11th. Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a research report on Thursday, May 21st. Scotiabank upped their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a research report on Tuesday, April 21st. Finally, Barclays cut their price target on shares of Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a research report on Monday, May 11th.

Consolidated Edison Stock Down 0.4%

Shares of NYSE:ED opened at $105.88 on Friday. Consolidated Edison has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a fifty day moving average of $109.77 and a 200 day moving average of $106.10. The firm has a market capitalization of $39.02 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.68 and a beta of 0.29. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

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

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Consolidated Edison

Several institutional investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC boosted its position in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after buying an additional 93 shares during the period. Meadowbrook Wealth Management LLC boosted its position in Consolidated Edison by 2.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after buying an additional 100 shares during the period. bLong Financial LLC boosted its position in Consolidated Edison by 1.3% during the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares during the period. Sachetta LLC boosted its position in Consolidated Edison by 72.9% during 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. Finally, Bridgewater Advisors Inc. boosted its position in Consolidated Edison by 1.6% during the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after buying an additional 105 shares during the period. 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.