Morgan Stanley Reiterates Underweight on Consolidated Edison (ED) Following Target Cut

With an annual dividend yield of 3.34% as of May 29, Consolidated Edison, Inc. (NYSE:ED) is included among the Dividend Aristocrats Ranked By Yield: Top 10 Stocks

Morgan Stanley Reiterates Underweight on Consolidated Edison (ED) Following Target Cut

On May 21, Morgan Stanley lowered its price recommendation on Consolidated Edison, Inc. (NYSE:ED) to $99 from $105. It reiterated an Underweight rating on the shares. The analyst said the change came as part of the firm’s April update of price targets for Regulated & Diversified Utilities and Independent Power Producers (IPPs) across North America. Morgan Stanley also noted that utility stocks underperformed the S&P this month.

During the company’s Q1 2026 earnings call, Senior Vice President and CFO Kirk Andrews said that as customers continue to adopt cleaner energy technologies, the company remains focused on creating value for both customers and shareholders in 2026 through the disciplined execution of Con Edison of New York’s three-year investment plan. He said the company is investing in infrastructure across both utilities to keep the system resilient and reliable as demand grows. At the same time, it continues to focus on cost discipline and delivering projects within budget.

Andrews also said that, based on first-quarter results and expectations for the rest of the year, the company is reaffirming its 2026 adjusted EPS guidance range. During the quarter, the company settled a forward sale agreement involving 7 million common shares, generating proceeds to support investments in its energy systems. Andrews added that the company completed the sale of its stake in Mountain Valley Pipeline, LLC, for total consideration of $357.5 million.

Consolidated Edison, Inc. (NYSE:ED) is a holding company. Through its subsidiaries, the company provides a range of energy-related products and services to customers.

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