Consolidated Edison (ED) to Release Quarterly Earnings on Thursday

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

Consolidated Edison Price Performance

NYSE ED opened at $89.47 on Tuesday. Consolidated Edison has a 12-month low of $80.46 and a 12-month high of $100.92. 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’s 50 day moving average is $90.91 and its 200-day moving average is $89.88. The company has a market capitalization of $30.89 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 8.42 and a beta of 0.37.

Consolidated Edison Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on ED. Morgan Stanley upped their target price on Consolidated Edison from $71.00 to $73.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st. JPMorgan Chase & Co. raised their price target on Consolidated Edison from $84.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, November 29th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Wells Fargo & Company raised Consolidated Edison from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $96.00 to $94.00 in a research note on Tuesday, October 17th. Finally, Barclays decreased their price target on Consolidated Edison from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $88.46.

Read Our Latest Research Report on Consolidated Edison

Institutional Trading of Consolidated Edison

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC grew its stake in shares of Consolidated Edison by 1.4% in the fourth quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 110 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Consolidated Edison by 0.3% during the first quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock valued at $4,198,000 after purchasing an additional 113 shares in the last quarter. Retirement Group LLC lifted its holdings in shares of Consolidated Edison by 74.8% during the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares in the last quarter. Brinker Capital Investments LLC lifted its holdings in shares of Consolidated Edison by 1.2% during the first quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after purchasing an additional 117 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Consolidated Edison by 3.6% during the first quarter. Moneta Group Investment Advisors LLC now owns 4,199 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 144 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Company Profile

(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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