Research analysts at StockNews.com started coverage on shares of Consolidated Edison (NYSE:ED – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.
Several other research analysts have also commented on the stock. Credit Suisse Group dropped their price objective on shares of Consolidated Edison from $95.00 to $91.00 and set a “neutral” rating for the company in a research note on Friday, February 17th. UBS Group lifted their target price on Consolidated Edison to $96.00 in a research report on Monday, November 21st. JPMorgan Chase & Co. decreased their target price on Consolidated Edison from $88.00 to $87.00 and set an “underweight” rating for the company in a research report on Thursday, February 2nd. Citigroup lifted their target price on Consolidated Edison from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Finally, Mizuho decreased their target price on Consolidated Edison from $98.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, February 17th. Five equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.25.
Consolidated Edison Stock Up 1.7 %
NYSE ED opened at $95.64 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.14 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $93.36 and a two-hundred day moving average of $93.01. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 9.28 and a beta of 0.35. Consolidated Edison has a 52 week low of $78.10 and a 52 week high of $102.21.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in shares of Consolidated Edison during the 4th quarter worth $25,000. Burleson & Company LLC purchased a new position in Consolidated Edison during the 3rd quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Consolidated Edison during the 4th quarter valued at about $26,000. Retirement Group LLC boosted its holdings in Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares during the period. Finally, Destiny Wealth Partners LLC purchased a new position in Consolidated Edison during the 3rd quarter valued at about $30,000. 64.95% of the stock is owned by institutional investors and hedge funds.
About Consolidated Edison
Consolidated Edison, Inc is a holding company, which engages in the business of regulated electric, gas, and steam delivery. It operates through the following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.
- Get a free copy of the StockNews.com research report on Consolidated Edison (ED)
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