Consolidated Edison (NYSE:ED) PT Lowered to $82.00 at Morgan Stanley

Consolidated Edison (NYSE:EDGet Rating) had its price objective decreased by Morgan Stanley from $84.00 to $82.00 in a research report released on Thursday morning, Stock Target Advisor reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. Mizuho reduced their price target on Consolidated Edison from $100.00 to $99.00 and set a buy rating on the stock in a report on Monday, June 27th. KeyCorp increased their price target on Consolidated Edison from $72.00 to $75.00 and gave the stock an underweight rating in a report on Tuesday, July 19th. Finally, Credit Suisse Group increased their price target on Consolidated Edison from $92.00 to $94.00 and gave the stock a neutral rating in a report on Monday, August 8th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison has an average rating of Hold and a consensus price target of $85.82.

Consolidated Edison Price Performance

NYSE:ED opened at $96.42 on Thursday. The firm has a market capitalization of $34.19 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 10.86 and a beta of 0.25. Consolidated Edison has a 1 year low of $71.52 and a 1 year high of $102.21. The business has a 50 day simple moving average of $97.82 and a 200-day simple moving average of $95.40. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.88 and a quick ratio of 0.82.

Consolidated Edison (NYSE:EDGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Consolidated Edison had a return on equity of 7.83% and a net margin of 11.16%. During the same period last year, the business posted $0.53 earnings per share. Equities analysts forecast that Consolidated Edison will post 4.48 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $3.16 annualized dividend and a yield of 3.28%. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Godsey & Gibb Associates acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $26,000. Tyler Stone Wealth Management acquired a new position in shares of Consolidated Edison during the 4th quarter worth approximately $26,000. Private Capital Group LLC boosted its holdings in shares of Consolidated Edison by 327.6% during the 2nd quarter. Private Capital Group LLC now owns 325 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 249 shares during the last quarter. Rise Advisors LLC acquired a new position in Consolidated Edison in the fourth quarter valued at approximately $30,000. Finally, Riverview Trust Co acquired a new position in Consolidated Edison in the first quarter valued at approximately $34,000. 64.76% of the stock is currently owned by institutional investors and hedge funds.

About Consolidated Edison

(Get Rating)

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 3.5 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 1,555 customers in parts of Manhattan.

Further Reading

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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