Consolidated Edison (ED) Receives a Rating Update from a Top Analyst

In a report released on May 7, Shelby Tucker from RBC Capital maintained a Hold rating on Consolidated Edison (ED – Research Report), with a price target of $93.00. The company’s shares closed yesterday at $97.70.

Tucker covers the Utilities sector, focusing on stocks such as PPL, Atlantica Yield, and American Water. According to TipRanks, Tucker has an average return of 10.5% and a 73.02% success rate on recommended stocks.

In addition to RBC Capital, Consolidated Edison also received a Hold from Barclays’s Nicholas Campanella in a report issued on May 7. However, on April 22, Scotiabank maintained a Sell rating on Consolidated Edison (NYSE: ED).

Based on Consolidated Edison’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.94 billion and a net profit of $226 million. In comparison, last year the company earned a revenue of $3.42 billion and had a net profit of $255 million

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Consolidated Edison (ED) Company Description:

Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.