Consolidated Edison, Inc. (NYSE:ED) Receives $102.80 Average PT from Brokerages

Consolidated Edison, Inc. (NYSE:ED - Get Free Report) has received a consensus recommendation of "Hold" from the twelve research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $103.30.

A number of brokerages have issued reports on ED. Scotiabank lifted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Barclays boosted their price objective on shares of Consolidated Edison from $95.00 to $100.00 and gave the company an "underweight" rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a report on Thursday, March 20th. UBS Group upped their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd.

Consolidated Edison Trading Down 0.7 %

ED traded down $0.74 during trading hours on Friday, reaching $112.56. The company's stock had a trading volume of 248,360 shares, compared to its average volume of 2,189,435. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock has a market cap of $40.54 billion, a PE ratio of 21.48, a P/E/G ratio of 3.05 and a beta of 0.27. The business's 50-day moving average is $105.44 and its 200-day moving average is $99.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last announced 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 business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, equities research analysts predict that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is currently 64.89%.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently added to or reduced their stakes in ED. Vanguard Group Inc. grew its stake in shares of Consolidated Edison by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider's stock valued at $3,788,319,000 after acquiring an additional 488,752 shares in the last quarter. Geode Capital Management LLC boosted its position in Consolidated Edison by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock valued at $799,684,000 after acquiring an additional 130,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Consolidated Edison by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after acquiring an additional 271,088 shares during the last quarter. Norges Bank acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $399,824,000. Finally, Northern Trust Corp raised its holdings in shares of Consolidated Edison by 10.2% during the fourth quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock valued at $375,458,000 after purchasing an additional 390,708 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

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.