Analysts Set Consolidated Edison, Inc. (NYSE:ED) Price Target at $100.00

Consolidated Edison, Inc. (NYSE:ED - Get Free Report) has earned a consensus rating of "Hold" from the thirteen ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $100.00.

A number of brokerages recently weighed in on ED. Citigroup upgraded Consolidated Edison from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank upgraded shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and upped their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Mizuho raised their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research report on Monday. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Finally, Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st.

Institutional Trading of Consolidated Edison

Hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC lifted its holdings in shares of Consolidated Edison by 4.7% during the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider's stock worth $243,000 after buying an additional 104 shares during the last quarter. Jacobi Capital Management LLC grew its position in Consolidated Edison by 4.2% in the 4th quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider's stock worth $229,000 after purchasing an additional 104 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Consolidated Edison by 1.1% during the 3rd quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider's stock worth $1,160,000 after purchasing an additional 124 shares during the period. Townsquare Capital LLC raised its position in shares of Consolidated Edison by 2.4% during the third quarter. Townsquare Capital LLC now owns 5,574 shares of the utilities provider's stock valued at $580,000 after buying an additional 130 shares during the last quarter. Finally, Trust Point Inc. raised its position in shares of Consolidated Edison by 4.9% during the fourth quarter. Trust Point Inc. now owns 2,790 shares of the utilities provider's stock valued at $249,000 after buying an additional 131 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock traded up $1.28 during midday trading on Monday, reaching $96.19. 1,874,085 shares of the company were exchanged, compared to its average volume of 2,472,613. The firm's 50-day simple moving average is $92.28 and its 200-day simple moving average is $98.15. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a market capitalization of $33.32 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.99 and a beta of 0.39.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, analysts anticipate that Consolidated Edison will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison's dividend payout ratio 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.