Consolidated Edison, Inc. (NYSE:ED) Receives $102.40 Average Target Price from Analysts

Consolidated Edison, Inc. (NYSE:ED) has earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $102.40.

ED has been the subject of several recent analyst reports. Scotiabank increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a 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. Morgan Stanley lifted 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, March 20th. Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, UBS Group boosted their price objective 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.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors have recently made changes to their positions in ED. United Bank bought a new position in Consolidated Edison during the 3rd quarter worth $227,000. Empowered Funds LLC increased its position in Consolidated Edison by 7.6% during the 3rd quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock worth $602,000 after purchasing an additional 409 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Consolidated Edison by 11.8% in the third quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after buying an additional 3,716 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Consolidated Edison by 3.9% during the third quarter. Raymond James Trust N.A. now owns 7,571 shares of the utilities provider’s stock worth $788,000 after buying an additional 287 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Consolidated Edison by 17.5% during the third quarter. Cerity Partners LLC now owns 77,323 shares of the utilities provider’s stock worth $8,052,000 after buying an additional 11,528 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.4 %

Shares of NYSE ED opened at $107.89 on Tuesday. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $109.36. The firm has a market capitalization of $37.41 billion, a P/E ratio of 20.59, a P/E/G ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company’s 50 day simple moving average is $99.26 and its 200 day simple moving average is $98.53.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. On average, analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 64.89%.

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.