Royal Bank Of Canada Has Lowered Expectations for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its price objective cut by equities research analysts at Royal Bank Of Canada from $110.00 to $109.00 in a research note issued on Monday. Royal Bank Of Canada‘s price target points to a potential downside of 5.40% from the company’s previous close.

Several other research firms have also issued reports on ED. Mizuho set a $108.00 target price on Consolidated Edison in a report on Wednesday, October 7th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price target (down from $121.00) on shares of Consolidated Edison in a research report on Tuesday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Consolidated Edison in a research note on Monday, October 19th. Evercore reaffirmed a “positive” rating and set a $112.00 price objective (down from $116.00) on shares of Consolidated Edison in a research report on Monday, August 17th. Finally, KeyCorp reduced their price objective on shares of Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. Three investment 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.com, the company presently has a consensus rating of “Reduce” and an average target price of $107.00.

Consolidated Edison Price Performance

Shares of ED stock traded down $0.52 during trading on Monday, hitting $115.22. The company had a trading volume of 572,306 shares, compared to its average volume of 2,230,260. The firm has a market capitalization of $42.61 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 4.01 and a beta of 0.26. Consolidated Edison has a one year low of $94.96 and a one year high of $116.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock’s 50-day moving average price is $107.03 and its 200 day moving average price is $108.40.

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

Hedge Funds Weigh In On Consolidated Edison

Institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC boosted its stake in Consolidated Edison by 26.8% in the third quarter. Apollon Wealth Management LLC now owns 14,904 shares of the utilities provider’s stock valued at $1,523,000 after buying an additional 3,148 shares in the last quarter. Norris Perne & French LLP MI acquired a new position in Consolidated Edison during the third quarter worth about $310,000. BG Investment Services LLC acquired a new position in Consolidated Edison during the third quarter worth about $9,536,000. Citizens Financial Group Inc. RI raised its stake in Consolidated Edison by 0.9% during the third quarter. Citizens Financial Group Inc. RI now owns 22,391 shares of the utilities provider’s stock worth $2,289,000 after acquiring an additional 195 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of Consolidated Edison by 15.7% in the third quarter. Simplicity Wealth LLC now owns 12,230 shares of the utilities provider’s stock worth $1,250,000 after acquiring an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Company Profile

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.