Brokerages Set Consolidated Edison, Inc. (NYSE:ED) Price Target at $98.35

Shares of Consolidated Edison, Inc. (NYSE:ED) have been given an average rating of “Hold” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $98.19.

A number of research analysts have commented on the stock. Scotiabank increased their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective on the stock. Guggenheim boosted their price target on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison during the third quarter valued at about $27,000. Beacon Capital Management LLC grew its position in Consolidated Edison by 2,307.7% during the 1st 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. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison in the third quarter valued at $30,000. Pathway Financial Advisers LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $98.36 on Wednesday. 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 1-year low of $85.85 and a 1-year high of $107.75. The company has a market capitalization of $34.07 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 3.26 and a beta of 0.36. The business has a 50-day moving average of $102.01 and a 200-day moving average of $98.08.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. On average, equities analysts anticipate that Consolidated Edison will post 5.33 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.38%. Consolidated Edison’s dividend payout ratio (DPR) is 62.52%.

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.