Consolidated Edison, Inc. (NYSE:ED) Receives $100.64 Average Target Price from Analysts

Consolidated Edison, Inc. (NYSE:ED) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $100.64.

ED has been the subject of several recent analyst reports. Barclays decreased their target price on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price objective for the company.

Consolidated Edison Trading Up 0.3 %

NYSE ED opened at $88.38 on Thursday. The business has a 50 day simple moving average of $93.93 and a 200 day simple moving average of $97.90. Consolidated Edison has a one year low of $85.85 and a one year high of $107.75. The stock has a market capitalization of $30.62 billion, a P/E ratio of 16.64, a P/E/G ratio of 3.11 and a beta of 0.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Research analysts expect that Consolidated Edison will post 5.34 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were given a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.76%. Consolidated Edison’s payout ratio is 62.52%.

Institutional Trading of Consolidated Edison

A number of hedge funds have recently bought and sold shares of ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison during the third quarter worth $30,000. Future Financial Wealth Managment LLC bought a new stake in Consolidated Edison during the third quarter worth $55,000. FSA Wealth Management LLC bought a new stake in Consolidated Edison during the third quarter worth $55,000. Finally, Webster Bank N. A. lifted its holdings in Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 379 shares during the period. 66.29% of the stock is currently owned by institutional investors.

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.