Analysts Set Consolidated Edison, Inc. (NYSE:ED) Target Price at $99.96

Shares of Consolidated Edison, Inc. (NYSE:ED - Get Free Report) have been assigned an average rating of "Hold" from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $99.96.

ED has been the topic of a number of research reports. Evercore ISI upgraded Consolidated Edison from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and raised their target price for the company from $90.00 to $100.00 in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target on the stock. Finally, Citigroup raised shares of Consolidated Edison from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th.

Consolidated Edison Stock Performance

NYSE:ED traded up $0.08 during midday trading on Friday, reaching $92.69. The stock had a trading volume of 1,868,498 shares, compared to its average volume of 1,896,912. The stock has a market cap of $32.11 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.11 and a beta of 0.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison has a 12-month low of $85.85 and a 12-month high of $107.75. The firm has a fifty day simple moving average of $100.02 and a two-hundred day simple moving average of $98.18.

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, topping the consensus estimate of $1.56 by $0.12. The company had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities analysts expect that Consolidated Edison will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.58%. Consolidated Edison's payout ratio is currently 62.52%.

Institutional Trading of Consolidated Edison

A number of hedge funds and other institutional investors have recently modified their holdings of ED. Capital Performance Advisors LLP acquired a new stake in Consolidated Edison in the third quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $30,000. Cultivar Capital Inc. bought a new position in shares of Consolidated Edison during the second quarter worth about $54,000. Future Financial Wealth Managment LLC bought a new position in shares of Consolidated Edison during the third quarter worth about $55,000. Finally, FSA Wealth Management LLC acquired a new position in Consolidated Edison in the third quarter worth about $55,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

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.