Consolidated Edison (NYSE:ED) Price Target Raised to $91.00

Consolidated Edison (NYSE:ED) had its target price increased by Morgan Stanley from $85.00 to $91.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

ED has been the subject of a number of other research reports. Barclays boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Scotiabank upped their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, UBS Group upped their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Stock Down 0.6 %

ED opened at $107.85 on Thursday. 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 stock has a market capitalization of $37.40 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The business has a 50-day moving average of $97.91 and a two-hundred day moving average of $98.40. Consolidated Edison has a 12 month low of $87.16 and a 12 month high of $109.36.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. On average, research analysts expect that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $27,000. OFI Invest Asset Management acquired a new position in Consolidated Edison during the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $35,000. Fairway Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter worth about $36,000. Finally, Centricity Wealth Management LLC purchased a new position in Consolidated Edison in the 4th quarter worth about $39,000. 66.29% of the stock is owned by institutional investors and hedge funds.

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.