Consolidated Edison (ED) to Release Quarterly Earnings on Thursday

Consolidated Edison (NYSE:EDGet Free Report) will be posting its quarterly earnings results after the market closes on Thursday, February 15th. Analysts expect Consolidated Edison to post earnings of $0.95 per share for the quarter.

Consolidated Edison Price Performance

Shares of ED stock opened at $89.47 on Tuesday. The stock has a 50-day moving average price of $90.91 and a 200 day moving average price of $89.88. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.98. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 8.42 and a beta of 0.37. Consolidated Edison has a 12 month low of $80.46 and a 12 month high of $100.92.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Wednesday, February 14th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.71%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 48.00%.

Institutional Investors Weigh In On Consolidated Edison

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Group LLC raised its stake in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in Consolidated Edison in the 2nd quarter valued at $28,000. Clear Street Markets LLC raised its stake in Consolidated Edison by 261.0% in the 4th quarter. Clear Street Markets LLC now owns 361 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 261 shares during the period. Almanack Investment Partners LLC. bought a new stake in Consolidated Edison in the 3rd quarter valued at $36,000. Finally, Cornerstone Planning Group LLC bought a new stake in Consolidated Edison in the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ED. Morgan Stanley raised their target price on Consolidated Edison from $71.00 to $73.00 and gave the stock an “underweight” rating in a report on Tuesday, November 21st. KeyCorp upgraded Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. raised their target price on Consolidated Edison from $84.00 to $87.00 and gave the stock an “underweight” rating in a report on Wednesday, November 29th. Barclays reduced their target price on Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. Finally, LADENBURG THALM/SH SH began coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.46.

View Our Latest Research Report on Consolidated Edison

About Consolidated Edison

(Get Free Report)

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 3.6 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.

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Earnings History for Consolidated Edison (NYSE:ED)

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