Barclays Lowers Consolidated Edison (NYSE:ED) Price Target to $99.00

Consolidated Edison (NYSE:ED - Get Free Report) had its price objective reduced by stock analysts at Barclays from $104.00 to $99.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the utilities provider's stock. Barclays's target price points to a potential upside of 0.86% from the stock's current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company boosted their price target on Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Guggenheim increased their target price on Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Morgan Stanley upped their price objective on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Finally, Scotiabank raised their target price 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. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $98.35.

Consolidated Edison Price Performance

Shares of NYSE:ED traded up $0.58 on Friday, hitting $98.16. The company had a trading volume of 2,915,285 shares, compared to its average volume of 1,862,303. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The company has a market cap of $33.98 billion, a PE ratio of 18.49, a PEG ratio of 3.34 and a beta of 0.36. Consolidated Edison has a 52-week low of $85.85 and a 52-week high of $107.75. The business has a 50 day moving average of $103.35 and a 200 day moving average of $97.89.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. As a group, equities analysts anticipate that Consolidated Edison will post 5.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ED. King Luther Capital Management Corp raised its position in shares of Consolidated Edison by 42.3% during the 3rd quarter. King Luther Capital Management Corp now owns 3,731 shares of the utilities provider's stock worth $389,000 after buying an additional 1,109 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at approximately $71,000. Commerce Bank increased its stake in shares of Consolidated Edison by 1.6% during the third quarter. Commerce Bank now owns 38,669 shares of the utilities provider's stock valued at $4,027,000 after acquiring an additional 615 shares during the period. Prospera Private Wealth LLC bought a new stake in Consolidated Edison during the third quarter worth approximately $70,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Consolidated Edison in the third quarter worth approximately $2,462,000. Institutional investors own 66.29% of the company's stock.

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.