Consolidated Edison, Inc. (NYSE:ED) Receives $102.80 Average Price Target from Analysts

Consolidated Edison, Inc. (NYSE:ED) has received a consensus rating of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $102.80.

A number of research firms have recently weighed in on ED. Barclays raised their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Scotiabank raised 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 lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price target on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $36,000. Wood Tarver Financial Group LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $35,000. OFI Invest Asset Management acquired a new position in Consolidated Edison during the fourth quarter worth about $35,000. Finally, Centricity Wealth Management LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at about $39,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 1.0 %

Shares of Consolidated Edison stock opened at $111.01 on Friday. 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 stock has a market cap of $39.99 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 3.05 and a beta of 0.27. The firm’s 50-day moving average is $105.09 and its two-hundred day moving average is $99.22. Consolidated Edison has a 1 year low of $87.28 and a 1 year high of $114.87.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.06%. Consolidated Edison’s dividend payout ratio is currently 64.89%.

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.