Consolidated Edison (NYSE:ED) Upgraded to “Hold” at Royal Bank Of Canada

Consolidated Edison (NYSE:ED) was upgraded by stock analysts at Royal Bank Of Canada to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on ED. Evercore ISI assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. New Street Research set a $106.00 price objective on shares of Consolidated Edison in a report on Monday, October 6th. Morgan Stanley set a $92.00 target price on shares of Consolidated Edison in a research note on Tuesday, December 16th. KeyCorp dropped their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Finally, UBS Group upped their price target on Consolidated Edison from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $103.43.

Consolidated Edison Stock Performance

NYSE ED opened at $99.41 on Tuesday. The firm has a market capitalization of $35.88 billion, a P/E ratio of 17.38, a PEG ratio of 2.71 and a beta of 0.39. The stock has a 50-day simple moving average of $98.80 and a two-hundred day simple moving average of $99.74. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.During the same period last year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current year.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Consolidated Edison

Large investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC boosted its stake in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Consolidated Edison by 8.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,349 shares of the utilities provider’s stock worth $4,352,000 after buying an additional 3,017 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Consolidated Edison by 35.8% during the first quarter. Jones Financial Companies Lllp now owns 13,476 shares of the utilities provider’s stock worth $1,490,000 after acquiring an additional 3,555 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Consolidated Edison by 8.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,944,993 shares of the utilities provider’s stock valued at $215,097,000 after acquiring an additional 155,211 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Consolidated Edison during the 1st quarter valued at about $208,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Company Profile

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.