Consolidated Edison, Inc. (NYSE:ED) Given Average Recommendation of "Hold" by Brokerages

Consolidated Edison, Inc. (NYSE:ED - Get Free Report) has received an average rating of "Hold" from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $98.35.

Several brokerages have recently weighed in on ED. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and upped their price objective for the company from $103.00 to $116.00 in a research note on Tuesday, October 15th. UBS Group raised their target price on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Evercore ISI upgraded Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Finally, Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a report on Tuesday, August 20th.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds have recently modified their holdings of ED. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $27,000. Beacon Capital Management LLC increased its holdings in Consolidated Edison by 2,307.7% in the 1st 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 last quarter. Ashton Thomas Securities LLC bought a new stake in Consolidated Edison in the 3rd quarter valued at about $30,000. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison during the first quarter valued at about $33,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Consolidated Edison in the second quarter worth about $33,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.9 %

Shares of NYSE:ED traded up $0.91 during midday trading on Wednesday, reaching $97.88. The company had a trading volume of 2,103,135 shares, compared to its average volume of 1,871,430. The company has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $98.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The firm has a market cap of $33.91 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 3.24 and a beta of 0.36. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data 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. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Research analysts predict that Consolidated Edison will post 5.33 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.39%. Consolidated Edison's dividend payout ratio is presently 62.52%.

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.