Consolidated Edison (NYSE:ED) Price Target Raised to $113.00

Consolidated Edison (NYSE:ED) had its target price raised by UBS Group from $110.00 to $113.00 in a research report report published on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

ED has been the subject of a number of other research reports. Barclays raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Monday, February 24th. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho boosted their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison has a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Trading Down 0.6 %

Shares of NYSE:ED opened at $107.85 on Friday. The firm has a market cap of $37.40 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.05 and a beta of 0.30. Consolidated Edison has a 12 month low of $87.16 and a 12 month high of $109.36. The company’s fifty day simple moving average is $97.91 and its 200 day simple moving average is $98.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, research analysts forecast that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio is presently 64.89%.

Institutional Investors Weigh In On Consolidated Edison

Several institutional investors have recently bought and sold shares of ED. AlphaMark Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter worth approximately $27,000. OFI Invest Asset Management bought a new stake in Consolidated Edison during the 4th quarter valued at $35,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth $35,000. Fairway Wealth LLC purchased a new position in shares of Consolidated Edison in the fourth quarter valued at $36,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Consolidated Edison in the fourth quarter valued at $39,000. Institutional investors own 66.29% of the company’s stock.

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.