Consolidated Edison (NYSE:ED) Given New $95.00 Price Target at Mizuho

Consolidated Edison (NYSE:ED - Free Report) had its price target boosted by Mizuho from $92.00 to $95.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the utilities provider's stock.

A number of other research analysts also recently commented on the company. Scotiabank upgraded Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and boosted their target price for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley cut their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and raised their price target for the company from $103.00 to $116.00 in a research report on Tuesday, October 15th. Barclays cut their price objective on Consolidated Edison from $99.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, January 27th. Finally, Evercore ISI lowered Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $100.00.

Consolidated Edison Price Performance

NYSE ED traded up $1.28 on Monday, reaching $96.19. The company's stock had a trading volume of 1,874,085 shares, compared to its average volume of 2,472,665. The stock has a market cap of $33.32 billion, a PE ratio of 18.12, a PEG ratio of 2.99 and a beta of 0.39. Consolidated Edison has a twelve month low of $85.85 and a twelve month high of $107.75. 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 firm's 50 day moving average is $92.28 and its two-hundred day moving average is $98.15.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. As a group, sell-side analysts predict that Consolidated Edison will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.53%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.83. Consolidated Edison's payout ratio is currently 62.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of Consolidated Edison in the third quarter valued at about $27,000. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison in the third quarter worth about $30,000. Centricity Wealth Management LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth approximately $39,000. Finally, CGC Financial Services LLC grew its stake in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

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.