Morgan Stanley Cuts Consolidated Edison (NYSE:ED) Price Target to $105.00

Consolidated Edison (NYSE:ED) had its price objective lowered by Morgan Stanley from $106.00 to $105.00 in a report released on Tuesday morning, MarketBeat reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Friday, March 27th. Mizuho set a $118.00 price target on Consolidated Edison in a research note on Monday, February 23rd. Barclays raised their price target on Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 24th. Finally, Scotiabank raised their price objective on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $108.50.

Consolidated Edison Stock Up 2.0%

Shares of NYSE:ED opened at $110.31 on Tuesday. The stock’s 50-day moving average price is $112.09 and its two-hundred day moving average price is $104.75. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Consolidated Edison has a 12-month low of $94.96 and a 12-month high of $116.23. The firm has a market cap of $40.64 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.75 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts forecast that Consolidated Edison will post 6.08 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently modified their holdings of the company. Revolve Wealth Partners LLC raised its holdings in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares during the period. Empowered Funds LLC raised its holdings in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock valued at $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP raised its holdings in shares of Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $3,256,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock valued at $1,473,000 after buying an additional 296 shares during the period. 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.