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

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

Other research analysts have also issued research reports about the company. Barclays increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Morgan Stanley increased their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research note on Thursday. Mizuho upped their price objective 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. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued 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 a consensus rating of “Hold” and an average price target of $102.40.

Consolidated Edison Price Performance

Shares of Consolidated Edison stock opened at $107.85 on Friday. The stock has a market capitalization of $37.40 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison has a one year low of $87.16 and a one year high of $109.36. 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 business’s 50 day simple moving average is $97.91 and its two-hundred day simple moving average is $98.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Analysts forecast that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Institutional Trading of Consolidated Edison

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 111 Capital acquired a new position in shares of Consolidated Edison during the 4th quarter worth about $381,000. Tableaux LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $417,000. Northstar Financial Companies Inc. acquired a new position in Consolidated Edison in the 4th quarter valued at $596,000. Wood Tarver Financial Group LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $35,000. Finally, Smith Shellnut Wilson LLC ADV raised its position in shares of Consolidated Edison by 10.2% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 2,437 shares of the utilities provider’s stock valued at $217,000 after buying an additional 225 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

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.