Morgan Stanley Cuts Consolidated Edison (NYSE:ED) Price Target to $101.00

Consolidated Edison (NYSE:ED) had its price target lowered by Morgan Stanley from $105.00 to $101.00 in a report released on Friday, MarketBeat.com reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on ED. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research note on Monday, July 27th. Argus set a $112.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Evercore reissued a “positive” rating and issued a $112.00 price target on shares of Consolidated Edison in a research report on Monday, August 17th. Barclays decreased their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company increased their target price on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Price Performance

NYSE:ED opened at $106.52 on Friday. 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 has a fifty day moving average price of $109.96 and a 200 day moving average price of $109.91. The stock has a market cap of $39.39 billion, a P/E ratio of 17.49, a PEG ratio of 2.76 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted 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 company had revenue of $4.07 billion for 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 period last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

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

Institutional Trading of Consolidated Edison

Several hedge funds have recently modified their holdings of the company. Greenland Capital Management LP acquired a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $10,504,000. Ameritas Advisory Services LLC grew its position in Consolidated Edison by 72.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 14,321 shares of the utilities provider’s stock worth $1,584,000 after acquiring an additional 6,032 shares during the last quarter. Kintra Wealth LLC acquired a new stake in Consolidated Edison during the 2nd quarter valued at $236,000. HB Wealth Management LLC increased its holdings in Consolidated Edison by 11.6% during the 2nd quarter. HB Wealth Management LLC now owns 20,890 shares of the utilities provider’s stock valued at $2,311,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Nilsine Partners LLC bought a new position in Consolidated Edison in the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

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.