Consolidated Edison Inc (NYSE:ED) Given Average Rating of "Hold" by Brokerages

Key Points

• Consolidated Edison Inc has received an average rating of "Hold" from twelve research firms, with two sell ratings, six holds, and four buys.
• The company recently reported a quarterly earnings per share (EPS) of $2.25, which missed analyst expectations of $2.30, despite revenue exceeding expectations at $4.80 billion.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, representing an annualized dividend yield of 3.33% and a payout ratio of 62.85%.

Shares of Consolidated Edison Inc (NYSE:ED - Get Free Report) have been assigned an average rating of "Hold" from the twelve research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $105.09.

Several analysts recently issued reports on ED shares. Citigroup boosted their price objective on shares of Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Barclays lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Mizuho upgraded shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $105.00 to $107.00 in a report on Monday, June 30th. Morgan Stanley lowered their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd.

Institutional Investors Weigh In On Consolidated Edison

A number of hedge funds have recently bought and sold shares of the stock. Alpine Bank Wealth Management acquired a new position in shares of Consolidated Edison during the first quarter worth $32,000. Fort Vancouver Investment Management LLC purchased a new stake in Consolidated Edison during the 1st quarter worth about $33,000. Financial Network Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the 1st quarter worth about $33,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Consolidated Edison by 64.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $102.25 on Monday. The business's 50 day moving average price is $101.74 and its 200 day moving average price is $102.38. The company has a market cap of $36.84 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 3.26 and a beta of 0.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. Consolidated Edison has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.61% and a net margin of 11.98%. The company had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $2.15 EPS. On average, research analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison's dividend payout ratio is currently 62.85%.

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.

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