Brokerages Set Consolidated Edison, Inc. (NYSE:ED) Target Price at $93.81

by · The Cerbat Gem

Consolidated Edison, Inc. (NYSE:ED – Get Free Report) has earned an average recommendation of “Reduce” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $93.88.

Several equities research analysts have recently weighed in on ED shares. Guggenheim upped their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America upped their price target on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays upped their price target on shares of Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Morgan Stanley upped their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research report on Tuesday, August 20th.

Get Our Latest Stock Analysis on Consolidated Edison

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ED. Beacon Capital Management LLC increased its stake in shares of Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Consolidated Edison in the fourth quarter valued at $29,000. Pathway Financial Advisers LLC acquired a new stake in Consolidated Edison during the 1st quarter worth about $33,000. TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison during the 2nd quarter valued at about $33,000. Finally, Quarry LP acquired a new position in shares of Consolidated Edison in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $101.14 on Tuesday. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison has a 1 year low of $85.15 and a 1 year high of $105.99. The firm has a 50-day moving average of $102.05 and a two-hundred day moving average of $95.69.

Consolidated Edison (NYSE:ED – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the company earned $0.61 EPS. On average, research analysts forecast that Consolidated Edison will post 5.3 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.83 per share. The ex-dividend date was Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.28%. Consolidated Edison’s payout ratio is 63.72%.

About Consolidated Edison

(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 3.7 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.

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