Consolidated Edison, Inc. (NYSE:ED) Receives Consensus Rating of “Hold” from Brokerages

Shares of Consolidated Edison, Inc. (NYSE:ED) have been assigned an average rating of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $99.96.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. UBS Group upped their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the company from $90.00 to $100.00 in a report on Thursday. Barclays cut their target price on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Finally, Morgan Stanley dropped their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Peapack Gladstone Financial Corp lifted its stake in Consolidated Edison by 6.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 25,606 shares of the utilities provider’s stock valued at $2,667,000 after acquiring an additional 1,441 shares during the period. Synovus Financial Corp raised its holdings in shares of Consolidated Edison by 6.2% during the third quarter. Synovus Financial Corp now owns 17,804 shares of the utilities provider’s stock valued at $1,854,000 after purchasing an additional 1,033 shares during the last quarter. Tidal Investments LLC lifted its position in Consolidated Edison by 4.5% during the third quarter. Tidal Investments LLC now owns 6,437 shares of the utilities provider’s stock valued at $670,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Consolidated Edison in the third quarter worth approximately $776,000. Finally, Sfmg LLC purchased a new stake in Consolidated Edison in the third quarter worth approximately $208,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Up 0.1 %

ED opened at $92.69 on Friday. The business’s fifty day simple moving average is $100.02 and its 200 day simple moving average is $98.18. Consolidated Edison has a 52 week low of $85.85 and a 52 week high of $107.75. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market cap of $32.11 billion, a PE ratio of 17.46, a P/E/G ratio of 3.11 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. As a group, research analysts expect that Consolidated Edison will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared 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 is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. Consolidated Edison’s payout ratio is currently 62.52%.

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.