Consolidated Edison, Inc. (NYSE:ED) Receives Consensus Rating of "Hold" from Brokerages

Shares of Consolidated Edison, Inc. (NYSE:ED - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $100.64.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $103.00 to $116.00 in a report 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. Scotiabank raised Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price objective on the stock.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently bought and sold shares of ED. Capital Performance Advisors LLP purchased a new stake in shares of Consolidated Edison during the third quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new stake in Consolidated Edison in the 3rd quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in Consolidated Edison in the 3rd quarter valued at $55,000. FSA Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 3rd quarter worth $55,000. Finally, Webster Bank N. A. boosted its holdings in shares of Consolidated Edison by 189.5% during the third quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock worth $60,000 after purchasing an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 1.1 %

ED stock traded up $0.93 during midday trading on Thursday, hitting $88.93. The company's stock had a trading volume of 1,793,018 shares, compared to its average volume of 2,029,604. The firm has a market capitalization of $30.81 billion, a P/E ratio of 16.75, a PEG ratio of 3.11 and a beta of 0.38. The firm has a 50-day simple moving average of $94.38 and a 200-day simple moving average of $97.82. Consolidated Edison has a 52-week low of $85.85 and a 52-week high of $107.75. 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 (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The business had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $4.02 billion. As a group, equities analysts forecast that Consolidated Edison will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.73%. Consolidated Edison's dividend payout ratio (DPR) is currently 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.