Consolidated Edison Stock (NYSE:ED), Trade Ideas

Consolidated Edison

Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate nearly all of Con Ed's earnings following the sale of its clean energy business to RWE in early 2023.

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February labor report shows mixed signals: increase in non-farm payrolls but higher unemployment rate and downward revisions. Wage growth lower than expected, fueling bets on Fed rate cuts. Stocks react with slight increase, top gainers include Atlassian, JM Smucker, GFL Environmental.

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Scotiabank analyst Andrew Weisel maintains Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) with a Sector Underperform and lowers the price target from $91 to $85.

Analyst Ratings

Scotiabank Maintains Sector Underperform on Consolidated Edison, Lowers Price Target to $85

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout</a>.
Benzinga readers can review the latest analyst takes on&amp;nbsp;their favorite stocks&amp;nbsp;by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga&amp;#39;s extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.
<h3 class="wp-block-heading">CMS Energy Corporation&lt;/b> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>)</h3>
Dividend Yield: 3.54%
Barclays analyst Eric Beaumont maintained an Equal-Weight rating and increased the price target from $55 to $59 on Jan. 17, 2024. This analyst has an accuracy rate of 67%.
Seaport Global analyst Angie Storozynski downgraded the stock from Buy to Neutral on Jan. 8, 2023. This analyst has an accuracy rate of 71%.
Recent News: On Feb. 1, CMS Energy posted better-than-expected quarterly earnings.
<h3 class="wp-block-heading">Consolidated Edison, Inc.&lt;/b> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>)</h3>
Dividend Yield: 3.66%
UBS analyst Daniel Ford maintained a Neutral rating and cut the price target from $99 to $94 on Feb. 16, 2024. This analyst has an accuracy rate of 67%.
Barclays analyst Eric Beaumont maintained an Equal-Weight rating and cut the price target from $88 to $86 on Jan. 22, 2024. This analyst has an accuracy rate of 67%.
Recent News: On Feb. 15, Consolidated Edison posted upbeat quarterly earnings.
<h3 class="wp-block-heading">Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>)</h3>
Dividend Yield: 3.65%
Morgan Stanley analyst David Arcaro maintained an Equal-Weight rating and raised the price target from $74 to $75 on March 21, 2024. This analyst has an accuracy rate of 61%.
Barclays analyst Eric Beaumont maintained an Overweight rating and boosted the price target from $77 to $79 on March 14, 2024. This analyst has an accuracy rate of 67%.
Recent News: On Feb. 27, Sempra Energy posted better-than-expected quarterly earnings.
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Wall Street's Most Accurate Analysts' Views On 3 Utilities Stocks Delivering High-Dividend Yields

Consolidated Edison's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) short percent of float has risen 7.06% since its last report. The company recently reported that it has 6.99 million shares sold short, which is 2.73% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.61 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Consolidated Edison Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711656919_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Consolidated Edison has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Consolidated Edison's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Consolidated Edison's peer group average for short interest as a percentage of float is 3.27%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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(ED) - Analyzing Consolidated Edison's Short Interest

Barclays analyst Nicholas Campanella maintains Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) with a Equal-Weight and raises the price target from $86 to $87.

Barclays Maintains Equal-Weight on Consolidated Edison, Raises Price Target to $87

The February labor market report presented mixed signals on the employment front, with a notable and larger-than-expected increase of 270,000 in nonfarm payrolls over the month, yet a higher-than-expected rise in the unemployment rate, moving <a href="https://www.benzinga.com/news/econ-s/24/03/37558250/february-jobs-growth-beats-estimates-but-unemployment-rate-rises-to-3-9-wage-growth-eases">from 3.7% to 3.9%.</a>
Additionally, the employment changes for December and January were revised downwards, subtracting a total of 167,000 nonfarm payrolls previously calculated for those two months.
Perhaps the clearest data came from the trend in wages, which grew less than expected, thereby alleviating fears about their potential impact on inflation.
In February, the pace of increase in average hourly earnings was 0.1%, a decrease from the 0.4% in January and lower than the expected 0.3%. On an annual basis, wage growth is 4.3%, down from the 4.4% expected and from January&#8217;s figure.
Overall, the data from the February labor market report has further fueled market bets on Federal Reserve rate cuts.
Traders assign an 83% probability on a rate cut occurring by June, as per CME Group&#8217;s FedWatch Tool. Additionally, they estimate a total of 105 basis points of cuts by the end of the year, implying a scenario where four cuts are fully priced in.
Stocks slightly increased after the release, with futures on the S&amp;P 500 index up by 0.3%, and those on the tech-heavy Nasdaq 100 inching 0.2% higher. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at an all-time high on Thursday. 
<h2 class="wp-block-heading">Stock Movers On Friday&#8217;s Morning Trading</h2>
Below is a list of stocks (with at least $10 billion of market capitalization) reacting to the job report release, as indicated by data from the <a href="https://pro.benzinga.com/dashboard">Benzinga Pro platform.</a>
Top Gainers After Jobs Report
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>%Change between 08:30-09:20 ET</td>
</tr>
<tr>
<td>Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>)</td>
<td>2.0%</td>
</tr>
<tr>
<td>JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>)</td>
<td>1.87%</td>
</tr>
<tr>
<td>GFL Environmental (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFL#NYSE">GFL</a>)</td>
<td>1.84%</td>
</tr>
<tr>
<td>Petrobras Brasileiro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>)</td>
<td>1.65%</td>
</tr>
<tr>
<td>Southern Copper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</td>
<td>1.58%</td>
</tr>
<tr>
<td>A.O. Smith (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>)</td>
<td>1.53%</td>
</tr>
<tr>
<td>Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</td>
<td>1.52%</td>
</tr>
</tbody>
</table>
</figure>
Worst Losers After Jobs Report
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>%Change between 08:30-09:20 ET</td>
</tr>
<tr>
<td>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)​</td>
<td>-2.59%</td>
</tr>
<tr>
<td>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>)</td>
<td>-1.79%</td>
</tr>
<tr>
<td>Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>)</td>
<td>-1.67%</td>
</tr>
<tr>
<td>Suzano S.A.</td>
<td>-1.35%</td>
</tr>
<tr>
<td>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>)</td>
<td>-1.29%</td>
</tr>
<tr>
<td>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)​</td>
<td>-1.24%</td>
</tr>
<tr>
<td>Ambev S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABEV#NYSE">ABEV</a>)</td>
<td>-1.19%</td>
</tr>
<tr>
<td>Skyworks Solutions</td>
<td>-1.18%</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/markets/equities/24/03/37554807/happy-womens-day-if-you-had-invested-1000-in-these-female-led-s-p-500-companies-a-year-ago-which">Happy Women&#8217;s Day! If You Had Invested $1,000 In These Female-Led S&amp;P 500 Companies A Year Ago, Which Would&#8217;ve Fetched The Best Returns?</a>
Photo: Shutterstock

Fed Rate Cut Expectations Rise After February Jobs Report: Friday's Stock Movers

Scotiabank analyst Andrew Weisel maintains Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) with a Sector Underperform and raises the price target from $90 to $91.

Scotiabank Maintains Sector Underperform on Consolidated Edison, Raises Price Target to $91

In the preceding three months, 6 analysts have released ratings for Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), presenting a wide array of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $87.58, a high estimate of $94.00, and a low estimate of $73.00. This current average reflects an increase of 0.44% from the previous average price target of $87.20. 
<img src="https://www.benzinga.com/files/images/story/2024/1708113625_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Consolidated Edison among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Ford</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$94.00</td>
<td>$99.00</td>
</tr>
<tr>
<td>Shelby Tucker</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$93.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Eric Beaumont</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$86.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Paul Fremont</td>
<td>Ladenburg Thalmann</td>
<td>Announces</td>
<td>Neutral</td>
<td>$92.50</td>
<td>-</td>
</tr>
<tr>
<td>Jeremy Metz</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$87.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>David Arcaro</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Underweight</td>
<td>$73.00</td>
<td>$71.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Consolidated Edison. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Consolidated Edison compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Consolidated Edison's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Consolidated Edison's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ED/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Consolidated Edison analyst ratings.</a>
<h2>All You Need to Know About Consolidated Edison</h2>
Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange &amp; Rockland, or O&amp;R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate nearly all of Con Ed's earnings following the sale of its clean energy business to RWE in early 2023.
<h3>Key Indicators: Consolidated Edison's Financial Health</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Decline in Revenue: Over the 3 months period, Consolidated Edison faced challenges, resulting in a decline of approximately -7.03% in revenue growth as of 30 September, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Utilities sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Consolidated Edison's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 13.58%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.51%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.82%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 1.13, Consolidated Edison adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 6 Analyst Projections For Consolidated Edison

RBC Capital analyst Shelby Tucker maintains Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) with a Sector Perform and lowers the price target from $94 to $93.

RBC Capital Maintains Sector Perform on Consolidated Edison, Lowers Price Target to $93

Guidance

Con Edison Forecasts Five-Year Compounded Annual Adjusted EPS Growth Rate Of 5% To 7% Based On Its 2024 Adjusted EPS Guidance

Con Edison Expects 2024 Adjusted EPS Of $5.20-$5.40, Est $5.29

Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) reported quarterly Adj earnings of $1.00 per share which beat the analyst consensus estimate of $0.96 by 4.17 percent. This is a 23.46 percent increase over earnings of $0.81 per share from the same period last year. The company reported quarterly sales of $3.44 billion which missed the analyst consensus estimate of $3.70 billion by 7.03 percent. This is a 14.66 percent decrease over sales of $4.03 billion the same period last year.