Consolidated Edison (NYSE:ED) Earns Hold Rating from Analysts at StockNews.com

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.

Consolidated Edison (NYSE:ED – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The utilities provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.18 billion. Consolidated Edison had a net margin of 10.59% and a return on equity of 7.79%. Consolidated Edison’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 earnings per share. On average, analysts predict that Consolidated Edison will post 4.88 earnings per share for the current year.

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

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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.