Consolidated Edison (ED) Reaches New 1-Year High at $85.28

Consolidated Edison, Inc. (NYSE:ED) hit a new 52-week high during trading on Wednesday . The stock traded as high as $85.28 and last traded at $85.26, with a volume of 616896 shares. The stock had previously closed at $84.93.

A number of equities research analysts have recently issued reports on ED shares. ValuEngine lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Morgan Stanley upped their target price on shares of Consolidated Edison from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Tuesday, February 12th. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Mizuho started coverage on shares of Consolidated Edison in a report on Monday. They set a “neutral” rating and a $85.00 target price for the company. Finally, Credit Suisse Group upped their target price on shares of Consolidated Edison from $77.00 to $78.00 and gave the stock an “underperform” rating in a report on Monday, February 25th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Consolidated Edison presently has an average rating of “Hold” and an average target price of $77.39.

The stock has a market capitalization of $27.35 billion, a PE ratio of 19.67, a PEG ratio of 6.49 and a beta of 0.12. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04.



Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 21st. The utilities provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. Consolidated Edison had a net margin of 11.20% and a return on equity of 8.42%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Consolidated Edison, Inc. will post 4.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 13th will be paid a $0.74 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, February 12th. Consolidated Edison’s dividend payout ratio is currently 68.52%.

A number of institutional investors have recently made changes to their positions in ED. Financial Gravity Companies Inc. purchased a new position in Consolidated Edison in the fourth quarter valued at approximately $28,000. Sontag Advisory LLC purchased a new position in Consolidated Edison in the fourth quarter valued at approximately $30,000. Orrstown Financial Services Inc. purchased a new position in Consolidated Edison in the fourth quarter valued at approximately $31,000. Heritage Wealth Advisors purchased a new position in Consolidated Edison in the fourth quarter valued at approximately $33,000. Finally, Larson Financial Group LLC purchased a new position in Consolidated Edison in the fourth quarter valued at approximately $33,000. Institutional investors own 61.53% of the company’s stock.

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Consolidated Edison Company Profile (NYSE:ED)

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

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