Consolidated Edison, Inc. (NYSE:ED) Receives $100.00 Average PT from Brokerages

Consolidated Edison, Inc. (NYSE:ED) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $100.00.

Several equities analysts have recently weighed in on the stock. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Mizuho lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays decreased their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Finally, Morgan Stanley cut their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd.

Institutional Investors Weigh In On Consolidated Edison

Several institutional investors and hedge funds have recently modified their holdings of ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison in the 3rd quarter valued at $27,000. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Consolidated Edison during the third quarter valued at about $30,000. OFI Invest Asset Management bought a new stake in shares of Consolidated Edison in the fourth quarter worth about $35,000. Finally, Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison in the fourth quarter worth about $36,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $96.05 on Monday. The stock has a market capitalization of $33.27 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.99 and a beta of 0.39. 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 current ratio of 1.01 and a quick ratio of 0.93. The business’s fifty day moving average price is $92.05 and its 200-day moving average price is $98.12.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating 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 return on equity of 8.70% and a net margin of 12.27%. On average, equities analysts predict that Consolidated Edison will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.54%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 62.52%.

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.