Consolidated Edison, Inc. (NYSE:ED) Receives $105.80 Consensus Price Target from Analysts

Shares of Consolidated Edison, Inc. (NYSE:ED) have earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $104.36.

A number of research analysts have issued reports on the stock. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Citigroup increased their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 9th. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, KeyCorp lowered shares of Consolidated Edison from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research report on Wednesday.

Consolidated Edison Trading Up 2.2%

Shares of Consolidated Edison stock opened at $104.31 on Wednesday. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The stock has a market cap of $37.58 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The company has a 50-day moving average of $108.45 and a two-hundred day moving average of $99.84.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $2.15 earnings per share. On average, research analysts anticipate that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.26%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.85%.

Institutional Trading of Consolidated Edison

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after acquiring an additional 82,985 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after acquiring an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after acquiring an additional 217,981 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Consolidated Edison by 81.4% during the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock worth $885,000 after acquiring an additional 4,451 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Consolidated Edison by 2.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 132,754 shares of the utilities provider’s stock valued at $11,846,000 after purchasing an additional 3,135 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

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.