HSBC Begins Coverage on Consolidated Edison (NYSE:ED)

Investment analysts at HSBC assumed coverage on shares of Consolidated Edison (NYSE:ED) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $104.00 price target on the utilities provider’s stock. HSBC’s price objective points to a potential downside of 6.99% from the company’s previous close.

A number of other equities analysts have also weighed in on ED. Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Mizuho set a $108.00 target price on Consolidated Edison in a research report on Wednesday, October 7th. KeyCorp lowered their price target on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Wells Fargo & Company boosted 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $105.00 price target on shares of Consolidated Edison in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $107.50.

Consolidated Edison Stock Down 0.1%

Shares of ED stock opened at $111.82 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. Consolidated Edison has a one year low of $94.96 and a one year high of $116.23. The company’s fifty day moving average price is $106.73 and its 200-day moving average price is $108.38. The company has a market capitalization of $41.35 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 3.88 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison will post 6.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently modified their holdings of ED. PFS Partners LLC grew its position in Consolidated Edison by 12.2% in the 3rd quarter. PFS Partners LLC now owns 836 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 91 shares during the last quarter. Cornerstone Financial Management LLC lifted its position in shares of Consolidated Edison by 43.2% during the second quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 96 shares during the last quarter. Charles Schwab Trust Co lifted its position in shares of Consolidated Edison by 2.3% during the third quarter. Charles Schwab Trust Co now owns 4,400 shares of the utilities provider’s stock worth $450,000 after purchasing an additional 100 shares during the last quarter. Sachetta LLC lifted its position in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock valued at $937,000 after purchasing an additional 105 shares during the period. 66.29% of the stock is owned by 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.