Consolidated Edison (NYSE:ED) Price Target Raised to $100.00 at Barclays

Consolidated Edison (NYSE:ED - Free Report) had its price target increased by Barclays from $95.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the utilities provider's stock.

A number of other research firms have also weighed in on ED. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. UBS Group raised their price target on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Citigroup upped their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Scotiabank lifted their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Finally, Evercore ISI downgraded Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average target price of $103.60.

Consolidated Edison Stock Down 1.0 %

Shares of NYSE:ED traded down $1.13 during midday trading on Tuesday, reaching $110.16. The company's stock had a trading volume of 402,369 shares, compared to its average volume of 2,779,171. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87. The firm has a market capitalization of $39.68 billion, a P/E ratio of 21.03, a PEG ratio of 3.05 and a beta of 0.27. The firm has a 50 day moving average of $106.12 and a 200-day moving average of $99.48. 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 posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. On average, research analysts anticipate that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison's dividend payout ratio is 64.89%.

Institutional Investors Weigh In On Consolidated Edison

A number of large investors have recently made changes to their positions in the company. KBC Group NV grew its position in Consolidated Edison by 7.7% during the first quarter. KBC Group NV now owns 49,655 shares of the utilities provider's stock valued at $5,491,000 after buying an additional 3,560 shares during the period. Joel Isaacson & Co. LLC boosted its stake in shares of Consolidated Edison by 1.4% during the 1st quarter. Joel Isaacson & Co. LLC now owns 22,755 shares of the utilities provider's stock worth $2,516,000 after acquiring an additional 319 shares during the last quarter. Clay Northam Wealth Management LLC bought a new stake in shares of Consolidated Edison during the 1st quarter valued at $221,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Consolidated Edison by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 974,065 shares of the utilities provider's stock worth $107,722,000 after purchasing an additional 12,527 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its holdings in Consolidated Edison by 31.6% in the 1st quarter. Achmea Investment Management B.V. now owns 133,653 shares of the utilities provider's stock worth $14,780,000 after purchasing an additional 32,115 shares during the period. 66.29% of the stock is currently 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.