Consolidated Edison Inc (NYSE:ED) Given Consensus Recommendation of “Reduce” by Analysts

Consolidated Edison Inc (NYSE:ED) has been assigned a consensus recommendation of “Reduce” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $108.9333.

A number of equities research analysts recently weighed in on ED shares. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Argus set a $112.00 price objective on Consolidated Edison in a research note on Tuesday, June 23rd. 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 report on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ED. California State Teachers Retirement System lifted its position in shares of Consolidated Edison by 13,703.3% during the 2nd quarter. California State Teachers Retirement System now owns 87,936,136 shares of the utilities provider’s stock worth $9,728,375,000 after buying an additional 87,299,071 shares in the last quarter. BlackRock Inc. bought a new position in shares of Consolidated Edison in the second quarter valued at approximately $4,609,491,000. State Street Corp grew its holdings in shares of Consolidated Edison by 3.6% in the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after acquiring an additional 854,868 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Consolidated Edison by 14.8% during the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after acquiring an additional 910,244 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $749,184,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $107.26 on Tuesday. Consolidated Edison has a twelve month low of $94.96 and a twelve month high of $116.23. The stock’s 50 day moving average is $109.78 and its 200-day moving average is $109.80. 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 firm has a market capitalization of $39.67 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 3.71 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last announced 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 during the quarter, compared to analyst estimates 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 previous year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison will post 6.1 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Consolidated Edison’s payout ratio is currently 58.29%.

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.