Consolidated Edison, Inc. (NYSE:ED - Free Report) - Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of Consolidated Edison in a research note issued on Thursday, December 19th. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $5.36 per share for the year, up from their prior forecast of $5.34. The consensus estimate for Consolidated Edison's current full-year earnings is $5.34 per share. Zacks Research also issued estimates for Consolidated Edison's Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $2.16 EPS, Q3 2025 earnings at $1.83 EPS and Q1 2026 earnings at $1.91 EPS.
Other analysts have also recently issued research reports about the stock. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, November 22nd. UBS Group raised their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a research report on Wednesday, October 9th. They set a "hold" rating and a $108.00 target price for the company. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research report on Friday, November 8th. Finally, Citigroup upgraded shares of Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $99.96.
Check Out Our Latest Report on ED
ED opened at $90.03 on Monday. The company's 50 day moving average price is $98.83 and its two-hundred day moving average price is $98.06. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.11 and a beta of 0.36. Consolidated Edison has a fifty-two week low of $85.85 and a fifty-two week high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.
Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion.
A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock worth $2,439,684,000 after purchasing an additional 399,034 shares during the period. Geode Capital Management LLC raised its holdings in Consolidated Edison by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider's stock worth $919,041,000 after buying an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider's stock valued at $223,741,000 after buying an additional 28,254 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Consolidated Edison by 0.8% during the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider's stock valued at $134,323,000 after buying an additional 11,785 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Consolidated Edison by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider's stock worth $113,845,000 after acquiring an additional 125,859 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Consolidated Edison's payout ratio is 62.52%.
Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.
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