Argus Cuts Price Target on Consolidated Edison (ED). Here is Why

Consolidated Edison, Inc. (NYSE:ED) is included among the 12 Best Utility Stocks to Buy Now According to Hedge Funds.

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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 and businesses across New York City and Westchester County.

On June 23, Argus trimmed its price target on Consolidated Edison, Inc. (NYSE:ED) from $118 to $112, but reaffirmed its ‘Buy’ rating on the shares. The lowered target implies that the shares are fairly valued at the current levels.

Argus noted that Consolidated Edison’s earnings growth has been driven by regulatory increases, and the utility has already filed for further rate hikes for early 2026. The analyst firm also believes that the stock should benefit from improving fundamentals and a positive sector rotation, which has historically happened during periods of expected interest rate cuts.

However, Argus lowered its price objective on ED after the stock recently soared to its highest level in five years.

Consolidated Edison, Inc. (NYSE:ED) boasts a rich dividend history, having grown its payouts for 54 consecutive years. The stock currently boasts an impressive annual yield of 3.17% and was recently placed in our list of the Top 11 Dividend Kings to Buy for Safe Dividend Growth.

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