Consolidated Edison (NYSE:ED) Research Coverage Started at HSBC

HSBC began coverage on shares of Consolidated Edison (NYSE:ED) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued a hold rating and a $104.00 price target on the utilities provider’s stock.

A number of other research firms have also issued reports on ED. Evercore reiterated a “positive” rating and set a $112.00 target price on shares of Consolidated Edison in a report on Monday, August 17th. 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. Mizuho set a $108.00 price target on shares of Consolidated Edison in a research note on Wednesday, October 7th. KeyCorp cut their price objective on Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Finally, Barclays reduced their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $107.50.

Consolidated Edison Stock Down 0.4%

Shares of NYSE:ED opened at $115.82 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. The firm has a market capitalization of $42.83 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 4.01 and a beta of 0.26. The firm’s 50-day moving average is $107.03 and its two-hundred day moving average is $108.44. Consolidated Edison has a 1 year low of $94.96 and a 1 year high of $116.50.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison will post 6.10 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be issued a $0.8875 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Institutional Investors Weigh In On Consolidated Edison

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Consolidated Edison in the second quarter valued at $4,609,491,000. 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 worth $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Consolidated Edison by 7.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider’s stock valued at $536,298,000 after purchasing an additional 353,000 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $494,352,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

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.