Scotiabank Forecasts Strong Price Appreciation for Consolidated Edison (NYSE:ED) Stock

Consolidated Edison (NYSE:ED) had its target price upped by stock analysts at Scotiabank from $100.00 to $101.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target indicates a potential downside of 0.04% from the company’s previous close.

Several other equities research analysts have also recently commented on ED. Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Mizuho lifted their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two equities research 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 to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Up 1.4 %

Shares of NYSE ED opened at $101.04 on Monday. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75. The firm’s 50-day moving average is $92.46 and its 200-day moving average is $97.95. 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 firm has a market capitalization of $35.00 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Equities analysts expect that Consolidated Edison will post 5.62 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in Consolidated Edison in the third quarter valued at approximately $30,000. AlphaMark Advisors LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $27,000. Fairway Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $36,000. Finally, OFI Invest Asset Management bought a new position in Consolidated Edison in the fourth quarter valued at approximately $35,000. Institutional investors 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.