Mizuho Issues Positive Forecast for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its target price hoisted by Mizuho from $92.00 to $95.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their target price for the stock from $103.00 to $116.00 in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 target price on the stock. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays reduced their price target on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.00.

Consolidated Edison Stock Up 2.2 %

Consolidated Edison stock opened at $95.76 on Monday. Consolidated Edison has a fifty-two week low of $85.85 and a fifty-two week 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. The firm’s 50-day simple moving average is $92.49 and its 200 day simple moving average is $98.14. The stock has a market cap of $33.17 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. Research analysts predict that Consolidated Edison will post 5.35 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be issued a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.55%. Consolidated Edison’s dividend payout ratio is presently 62.52%.

Institutional Investors Weigh In On Consolidated Edison

A number of large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings in shares of Consolidated Edison by 4.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares in the last quarter. D.A. Davidson & CO. lifted its position in Consolidated Edison by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 124 shares during the last quarter. Townsquare Capital LLC boosted its stake in Consolidated Edison by 2.4% in the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider’s stock worth $580,000 after buying an additional 130 shares in the last quarter. Trust Point Inc. grew its position in Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 131 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Consolidated Edison by 1.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,372 shares of the utilities provider’s stock worth $925,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other 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.