Consolidated Edison, Inc. (NYSE:ED) Receives $93.81 Average Price Target from Analysts

Shares of Consolidated Edison, Inc. (NYSE:ED) have been given a consensus rating of “Reduce” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $93.88.

A number of research analysts recently weighed in on ED shares. Bank of America lifted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Scotiabank lifted their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Guggenheim lifted their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd.

Institutional Trading of Consolidated Edison

A number of large investors have recently made changes to their positions in the business. Beacon Capital Management LLC boosted its stake in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison during the 1st quarter worth about $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter worth about $33,000. Finally, Quarry LP purchased a new position in shares of Consolidated Edison during the 4th quarter worth about $35,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 1.9 %

Shares of Consolidated Edison stock opened at $101.14 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison has a 1-year low of $85.15 and a 1-year high of $105.99. The company’s fifty day simple moving average is $102.05 and its 200-day simple moving average is $95.69. The stock has a market capitalization of $34.98 billion, a PE ratio of 19.41, a P/E/G ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, equities analysts anticipate that Consolidated Edison will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.28%. Consolidated Edison’s dividend payout ratio (DPR) is presently 63.72%.

Consolidated Edison Company Profile

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.