Consolidated Edison (NYSE:ED) Given New $95.00 Price Target at Barclays

Consolidated Edison (NYSE:ED) had its target price upped by Barclays from $92.00 to $95.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. Mizuho increased their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and raised their price objective for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.10.

Consolidated Edison Stock Performance

Shares of ED stock opened at $99.66 on Monday. The firm has a 50-day moving average of $92.26 and a 200-day moving average of $97.95. The company has a market cap of $34.52 billion, a P/E ratio of 19.02, a P/E/G ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison has a one year low of $85.85 and a one year high of $107.75.

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

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Hedge Funds Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in Consolidated Edison during the third quarter worth about $27,000. AlphaMark Advisors LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter valued at approximately $30,000. OFI Invest Asset Management bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $35,000. Finally, Fairway Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at approximately $36,000. 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.