Consolidated Edison (NYSE:ED) Price Target Raised to $106.00

Consolidated Edison (NYSE:ED) had its price target lifted by equities research analysts at UBS Group from $105.00 to $106.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective indicates a potential upside of 3.37% from the company’s current price.

Other research analysts also recently issued reports about the stock. Guggenheim upped their target price on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Mizuho lifted their target price on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank increased their target price on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on shares of Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Consolidated Edison presently has a consensus rating of “Hold” and a consensus target price of $93.42.

Consolidated Edison Trading Up 0.4 %

NYSE ED traded up $0.42 during trading hours on Friday, hitting $102.54. 597,252 shares of the company’s stock were exchanged, compared to its average volume of 1,843,893. The business’s 50 day moving average is $99.86 and its 200-day moving average is $94.52. 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 12-month low of $80.46 and a 12-month high of $105.99. The firm has a market capitalization of $35.46 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $0.61 EPS. As a group, analysts anticipate that Consolidated Edison will post 5.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Consolidated Edison

Several hedge funds have recently modified their holdings of the stock. Beacon Capital Management LLC lifted its position in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Tidemark LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. acquired a new position in Consolidated Edison during the 4th quarter valued at $29,000. Pathway Financial Advisers LLC bought a new stake in shares of Consolidated Edison in the first quarter valued at about $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $33,000. 66.29% of the stock is owned by hedge funds and other 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.