Consolidated Edison Inc (NYSE:ED) Stock Now Rated “Reduce” by Wall Street Analysts

Consolidated Edison Inc (NYSE:ED) has earned a consensus recommendation of “Reduce” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $108.09.

ED has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price target on shares of Consolidated Edison from $110.00 to $109.00 in a research note on Monday. Wells Fargo & Company upped their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Scotiabank decreased their price target on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. UBS Group lifted their price objective on shares of Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Mizuho set a $108.00 price target on Consolidated Edison in a research report on Wednesday, October 7th.

Consolidated Edison Stock Performance

NYSE ED opened at $115.05 on Wednesday. The company’s 50 day moving average is $107.31 and its two-hundred day moving average is $108.69. Consolidated Edison has a 12 month low of $94.96 and a 12 month high of $116.50.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%.

Institutional Trading of Consolidated Edison

A number of large investors have recently made changes to their positions in ED. North Dakota State Investment Board boosted its holdings in shares of Consolidated Edison by 5.3% in the third quarter. North Dakota State Investment Board now owns 11,290 shares of the utilities provider’s stock worth $1,154,000 after buying an additional 572 shares during the period. William Mack & Associates Inc. acquired a new position in Consolidated Edison in the third quarter worth approximately $84,000. Victory Financial Group LLC bought a new position in Consolidated Edison during the third quarter valued at approximately $208,000. Asset Management One Co. Ltd. lifted its stake in shares of Consolidated Edison by 3.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 202,738 shares of the utilities provider’s stock valued at $20,722,000 after purchasing an additional 6,309 shares during the last quarter. Finally, SYM FINANCIAL Corp lifted its position in shares of Consolidated Edison by 5.0% in the third quarter. SYM FINANCIAL Corp now owns 2,158 shares of the utilities provider’s stock worth $221,000 after buying an additional 102 shares during the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

About Consolidated Edison

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.