Shares of Consolidated Edison, Inc. (NYSE:ED – Get Free Report) hit a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $98.00 to $104.00. Barclays currently has an underweight rating on the stock. Consolidated Edison traded as high as $107.04 and last traded at $106.87, with a volume of 46628 shares changing hands. The stock had previously closed at $106.76.
Several other equities research analysts have also weighed in on ED. Jefferies Financial Group assumed coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company raised their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Guggenheim raised their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, UBS Group lifted their price objective on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.73.
Institutional Inflows and Outflows
Consolidated Edison Price Performance
The firm has a market capitalization of $36.55 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 3.46 and a beta of 0.36. The company’s 50 day moving average is $102.97 and its 200-day moving average is $96.91. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.
Consolidated Edison (NYSE:ED – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.61 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.
Consolidated Edison Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.14%. Consolidated Edison’s dividend payout ratio (DPR) is 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.
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