Consolidated Edison, Inc. (NYSE:ED) Receives $98.35 Consensus PT from Analysts

Consolidated Edison, Inc. (NYSE:ED) has earned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $98.19.

A number of research analysts have issued reports on ED shares. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Scotiabank raised their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Barclays lowered their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison in the third quarter valued at approximately $30,000. Beacon Capital Management LLC raised its holdings in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the period. Pathway Financial Advisers LLC purchased a new position in Consolidated Edison in the first quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC purchased a new position in Consolidated Edison in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $101.72 on Wednesday. The stock has a fifty day moving average price of $101.85 and a 200 day moving average price of $98.13. The stock has a market cap of $35.24 billion, a PE ratio of 19.16, a P/E/G ratio of 3.31 and a beta of 0.36. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Sell-side analysts forecast that Consolidated Edison will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be given a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.26%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.