Shares of Consolidated Edison Inc (NYSE:ED - Get Free Report) have been assigned a consensus rating of "Hold" from the twelve ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $105.27.
Several equities analysts recently issued reports on ED shares. Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Barclays boosted their target price on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Morgan Stanley decreased their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Mizuho upgraded shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $105.00 to $107.00 in a research report on Monday. Finally, Guggenheim upped their price objective on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd.
Read Our Latest Analysis on ED
Consolidated Edison Trading Down 0.9%
Shares of Consolidated Edison stock opened at $99.89 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $104.14 and a 200-day simple moving average of $100.84. The stock has a market cap of $35.99 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.22 and a beta of 0.26. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87.
Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same period in the previous year, the firm posted $2.15 earnings per share. On average, equities analysts forecast that Consolidated Edison will post 5.62 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, May 14th. Consolidated Edison's dividend payout ratio (DPR) is presently 62.85%.
Hedge Funds Weigh In On Consolidated Edison
A number of institutional investors have recently modified their holdings of the company. LVM Capital Management Ltd. MI purchased a new stake in shares of Consolidated Edison in the second quarter valued at $501,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Consolidated Edison in the 1st quarter worth about $1,631,000. Modern Wealth Management LLC grew its holdings in Consolidated Edison by 15.1% in the 1st quarter. Modern Wealth Management LLC now owns 2,986 shares of the utilities provider's stock valued at $330,000 after buying an additional 392 shares during the period. Strs Ohio purchased a new stake in Consolidated Edison in the 1st quarter valued at about $2,335,000. Finally, Jacobi Capital Management LLC increased its stake in shares of Consolidated Edison by 37.4% during the 1st quarter. Jacobi Capital Management LLC now owns 3,530 shares of the utilities provider's stock valued at $390,000 after acquiring an additional 961 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.
About Consolidated Edison
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Get Free ReportConsolidated 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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