Consolidated Edison, Inc. (NYSE:ED) Receives Average Rating of "Hold" from Brokerages

Consolidated Edison, Inc. (NYSE:ED - Get Free Report) has been given an average recommendation of "Hold" by the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $98.73.

ED has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd. Guggenheim increased their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Barclays increased their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. lifted its position in shares of Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider's stock valued at $22,193,000 after buying an additional 89,080 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Consolidated Edison by 153.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider's stock valued at $22,321,000 after purchasing an additional 148,988 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in Consolidated Edison by 121.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider's stock valued at $10,323,000 after purchasing an additional 62,260 shares during the last quarter. Plato Investment Management Ltd raised its stake in Consolidated Edison by 17,683.9% in the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider's stock valued at $904,000 after purchasing an additional 9,903 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Consolidated Edison by 11.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 109,630 shares of the utilities provider's stock valued at $10,112,000 after purchasing an additional 11,165 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Down 2.2 %

NYSE ED traded down $2.40 on Friday, hitting $104.60. 1,734,348 shares of the stock were exchanged, compared to its average volume of 1,832,982. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a fifty day moving average price of $103.35 and a two-hundred day moving average price of $97.15. The firm has a market capitalization of $36.17 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.46 and a beta of 0.36. Consolidated Edison has a 52-week low of $85.85 and a 52-week high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the firm earned $0.61 earnings per share. Research analysts forecast that Consolidated Edison will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. Consolidated Edison's dividend payout ratio (DPR) is 63.72%.

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.