Analysts Set Consolidated Edison, Inc. (NYSE:ED) PT at $99.96

Consolidated Edison, Inc. (NYSE:ED) has been given an average recommendation of “Hold” by the fifteen analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $99.96.

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. UBS Group boosted their target price on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price target for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th.

Institutional Trading of Consolidated Edison

A number of institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth about $30,000. Cultivar Capital Inc. acquired a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $54,000. Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison during the 3rd quarter worth approximately $55,000. Finally, FSA Wealth Management LLC bought a new position in Consolidated Edison in the third quarter worth approximately $55,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $90.83 on Friday. 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 company has a market cap of $31.46 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 3.11 and a beta of 0.36. The company has a 50 day moving average of $99.59 and a 200-day moving average of $98.18. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. As a group, equities research analysts forecast that Consolidated Edison will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were given a $0.83 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.66%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.52%.

Consolidated Edison Company Profile

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.