Barclays Has Lowered Expectations for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its price objective cut by stock analysts at Barclays from $104.00 to $99.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential upside of 0.68% from the company’s current price.

A number of other research analysts have also weighed in on ED. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Bank of America increased their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company upped their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.35.

Consolidated Edison Price Performance

NYSE ED traded up $0.75 during trading hours on Friday, reaching $98.33. The company’s stock had a trading volume of 994,936 shares, compared to its average volume of 1,853,453. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market cap of $34.04 billion, a PE ratio of 19.12, a PEG ratio of 3.34 and a beta of 0.36. The company’s 50-day moving average is $103.48 and its two-hundred day moving average is $97.85. Consolidated Edison has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. Analysts forecast that Consolidated Edison will post 5.31 EPS for the current year.

Hedge Funds Weigh In On Consolidated Edison

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the 3rd quarter valued at about $27,000. Beacon Capital Management LLC grew its holdings in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Consolidated Edison in the 3rd quarter valued at approximately $30,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison in the 1st quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC bought a new stake in Consolidated Edison during the 2nd quarter valued at $33,000. Institutional investors own 66.29% of the company’s stock.

About Consolidated Edison

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.