Consolidated Edison, Inc. (NYSE:ED) Receives $102.40 Consensus Price Target from Analysts

Consolidated Edison, Inc. (NYSE:ED) has earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $102.40.

Several equities analysts have recently weighed in on the stock. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Barclays upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Finally, Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th.

Consolidated Edison Trading Up 0.4 %

ED opened at $107.89 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $109.36. The company’s 50 day moving average price is $99.26 and its two-hundred day moving average price is $98.53. The firm has a market capitalization of $37.41 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.05 and a beta of 0.30.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. As a group, research analysts predict that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Institutional Investors Weigh In On Consolidated Edison

Hedge funds have recently made changes to their positions in the business. United Bank purchased a new stake in Consolidated Edison in the third quarter worth $227,000. Empowered Funds LLC boosted its holdings in Consolidated Edison by 7.6% in the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after buying an additional 409 shares during the period. Thrivent Financial for Lutherans grew its stake in Consolidated Edison by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after buying an additional 3,716 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Consolidated Edison by 3.9% during the 3rd quarter. Raymond James Trust N.A. now owns 7,571 shares of the utilities provider’s stock valued at $788,000 after acquiring an additional 287 shares during the period. Finally, Cerity Partners LLC grew its holdings in Consolidated Edison by 17.5% during the 3rd quarter. Cerity Partners LLC now owns 77,323 shares of the utilities provider’s stock valued at $8,052,000 after buying an additional 11,528 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

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.