Consolidated Edison (NYSE:ED) Sets New 1-Year High - Still a Buy?

Consolidated Edison, Inc. (NYSE:ED - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $112.83 and last traded at $111.92, with a volume of 261110 shares traded. The stock had previously closed at $109.58.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an "underweight" rating in a research note on Monday, February 24th. Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 21st. Morgan Stanley increased their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Mizuho upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $102.40.

Consolidated Edison Stock Up 1.5 %

The firm's 50-day moving average is $101.64 and its two-hundred day moving average is $98.72. 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 stock has a market cap of $38.54 billion, a P/E ratio of 20.40, a PEG ratio of 3.05 and a beta of 0.27.

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Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison's payout ratio is 64.89%.

Hedge Funds Weigh In On Consolidated Edison

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $776,000. JPMorgan Chase & Co. lifted its stake in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider's stock valued at $223,373,000 after buying an additional 82,985 shares during the period. Hennessy Advisors Inc. boosted its holdings in Consolidated Edison by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider's stock worth $12,772,000 after buying an additional 3,900 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Consolidated Edison by 102.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider's stock worth $38,394,000 after buying an additional 217,981 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock worth $885,000 after buying an additional 4,451 shares during the period. 66.29% of the stock is owned by 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.