Fintel reports that on December 12, 2024, Scotiabank upgraded their outlook for Consolidated Edison (NYSE:ED) from Sector Underperform to Sector Perform.
Analyst Price Forecast Suggests 11.82% Upside
As of December 2, 2024, the average one-year price target for Consolidated Edison is $103.56/share. The forecasts range from a low of $85.85 to a high of $121.80. The average price target represents an increase of 11.82% from its latest reported closing price of $92.62 / share.
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The projected annual revenue for Consolidated Edison is 15,383MM, an increase of 2.34%. The projected annual non-GAAP EPS is 5.25.
What is the Fund Sentiment?
There are 1,869 funds or institutions reporting positions in Consolidated Edison. This is an increase of 61 owner(s) or 3.37% in the last quarter. Average portfolio weight of all funds dedicated to ED is 0.19%, an increase of 3.24%. Total shares owned by institutions increased in the last three months by 4.77% to 262,533K shares. 
The put/call ratio of ED is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
Bank Of America holds 13,283K shares representing 3.83% ownership of the company. In its prior filing, the firm reported owning 12,268K shares , representing an increase of 7.64%. The firm decreased its portfolio allocation in ED by 70.25% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,947K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 10,881K shares , representing an increase of 0.60%. The firm increased its portfolio allocation in ED by 10.04% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 9,058K shares representing 2.61% ownership of the company. In its prior filing, the firm reported owning 8,876K shares , representing an increase of 2.00%. The firm increased its portfolio allocation in ED by 9.36% over the last quarter.
Geode Capital Management holds 8,854K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 8,747K shares , representing an increase of 1.21%. The firm decreased its portfolio allocation in ED by 43.07% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 7,330K shares representing 2.12% ownership of the company. In its prior filing, the firm reported owning 7,389K shares , representing a decrease of 0.81%. The firm increased its portfolio allocation in ED by 6.27% over the last quarter.
Consolidated Edison Background Information
(This description is provided by the company.)
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $63 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric service in New York City and New York's Westchester County, gas service in Manhattan, the Bronx, parts of Queens and parts of Westchester, and steam service in Manhattan; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., the second-largest solar developer in the United States and the seventh-largest worldwide, which, through its subsidiaries develops, owns and operates renewable and sustainable energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which falls primarily under the oversight of the Federal Energy Regulatory Commission and through its subsidiaries invests in electric transmission projects supporting its parent company's effort to transition to clean, renewable energy. Con Edison Transmission manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects that will bring clean, renewable electricity to customers, focusing on New York, New England, the Mid-Atlantic states and the Midwest.
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