Consolidated Edison (ED) Price Target Lowered by Barclays

Consolidated Edison, Inc. (NYSE:ED) is included among the 10 Best Renewable Energy Dividend Stocks to Buy Now.

Consolidated Edison, Inc. (NYSE:ED) operates one of the largest energy delivery systems in the world, providing electric, gas, and steam service to the 10 million people living in New York City and Westchester County. The company sources electricity from all over New York, whether it’s from solar, wind, or generating stations.

On November 10, Barclays lowered its price target on Consolidated Edison, Inc. (NYSE:ED) from $105 to $101, while maintaining its ‘Underweight’ rating on the stock following the company’s third-quarter report.

That said, Consolidated Edison, Inc. (NYSE:ED) reported impressive results for its Q3 on November 6, with the utility beating forecasts in both profits and revenue. The company’s net income for the quarter came in at $688 million or $1.91 a share, compared with $588 million or $1.70 per share in the same quarter last year. Meanwhile, net income for the first nine months of FY 2025 was $1.726 billion, up from $1.510 billion in the first nine months of 2024. The growth was primarily due to a higher electric and gas rate base and increased incomes from asset management arrangements and allowance for funds used during construction.

Consolidated Edison, Inc. (NYSE:ED) reaffirmed its optimism by narrowing down its FY 2025 adjusted EPS forecast to be in the range of $5.60 to $5.70 per share, from $5.50 to $5.70 per share previously. Moreover, the company remains focused on strategically investing in its infrastructure, with plans to complete construction of 14 new substations, along with substation upgrades, transmission lines, and storm resiliency measures by 2030.

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