Shares of Consolidated Edison, Inc. (NYSE:ED – Get Free Report) have been assigned a consensus recommendation of “Reduce” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $93.81.
Several equities research analysts have issued reports on the stock. 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 report on Monday, August 5th. Scotiabank upped their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. UBS Group upped their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Barclays raised their price objective on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th.
Check Out Our Latest Stock Report on Consolidated Edison
Institutional Trading of Consolidated Edison
Consolidated Edison Price Performance
Shares of NYSE ED opened at $104.13 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. Consolidated Edison has a fifty-two week low of $80.46 and a fifty-two week high of $105.99. The stock has a market cap of $36.01 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The stock has a fifty day moving average of $101.34 and a 200-day moving average of $95.27.
Consolidated Edison (NYSE:ED – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS 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 during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business earned $0.61 earnings per share. Equities research analysts anticipate that Consolidated Edison will post 5.3 earnings per share for the current year.
Consolidated Edison Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.72%.
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.
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