Consolidated Edison (NYSE:ED) Upgraded at Evercore ISI

Consolidated Edison (NYSE:ED - Get Free Report) was upgraded by stock analysts at Evercore ISI from a "hold" rating to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.

ED has been the topic of several other research reports. Morgan Stanley lifted their price objective on Consolidated Edison from $82.00 to $87.00 and gave the stock an "underweight" rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $97.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Bank of America boosted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 5th. UBS Group boosted their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Finally, Barclays decreased their price target on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has a consensus rating of "Hold" and a consensus price target of $98.35.

Consolidated Edison Stock Down 1.2 %

Shares of Consolidated Edison stock traded down $1.23 during trading on Friday, hitting $97.25. 673,851 shares of the stock traded hands, compared to its average volume of 1,857,361. The company has a fifty day moving average price of $103.29 and a two-hundred day moving average price of $97.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. Consolidated Edison has a twelve month low of $85.85 and a twelve month high of $107.75. The stock has a market cap of $33.69 billion, a P/E ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.36.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.75% and a net margin of 12.27%. Equities research analysts predict that Consolidated Edison will post 5.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds have recently added to or reduced their stakes in the stock. Clean Energy Transition LLP raised its position in shares of Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock worth $80,259,000 after purchasing an additional 623,787 shares during the period. International Assets Investment Management LLC raised its position in shares of Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider's stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Consolidated Edison by 302.3% during the second quarter. Acadian Asset Management LLC now owns 709,172 shares of the utilities provider's stock worth $63,396,000 after buying an additional 532,893 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Consolidated Edison by 4,020.5% during the third quarter. Assenagon Asset Management S.A. now owns 406,859 shares of the utilities provider's stock worth $42,366,000 after buying an additional 396,985 shares in the last quarter. Finally, AMF Tjanstepension AB grew its holdings in shares of Consolidated Edison by 243.2% during the second quarter. AMF Tjanstepension AB now owns 497,982 shares of the utilities provider's stock worth $44,564,000 after buying an additional 352,903 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

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.