Consolidated Edison Inc (NYSE:ED) Receives Average Rating of "Reduce" from Analysts

Key Points

• Consolidated Edison has a consensus analyst rating of "Reduce" from 15 analysts, with six sell ratings, seven hold ratings, and two buy ratings.
• The average 1-year price target is about $108.07, slightly below the stock’s recent trading level of $111.24, and several firms have recently issued targets ranging from $98 to $116.
• The company continues to pay a steady dividend, recently declaring a $0.8875 quarterly dividend that annualizes to $3.55 per share, for a yield of about 3.2%.

Shares of Consolidated Edison Inc (NYSE:ED - Get Free Report) have received a consensus rating of "Reduce" from the fifteen analysts that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $108.0667.

Several equities analysts have weighed in on ED shares. The Goldman Sachs Group restated a "sell" rating and set a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Evercore set a $116.00 price target on shares of Consolidated Edison in a report on Monday, May 11th. Mizuho reiterated a "neutral" rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research report on Tuesday, April 21st.

Consolidated Edison Trading Up 0.1%

NYSE:ED opened at $111.24 on Monday. The company has a market capitalization of $41.00 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison has a 52-week low of $94.96 and a 52-week high of $116.23. The stock has a fifty day simple moving average of $108.12 and a 200-day simple moving average of $108.21.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison's dividend payout ratio (DPR) is presently 59.76%.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors have recently made changes to their positions in ED. Revolve Wealth Partners LLC boosted its stake in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Consolidated Edison by 42.1% during the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after buying an additional 2,659 shares during the period. Woodline Partners LP boosted its position in Consolidated Edison by 40.7% during the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock worth $3,237,000 after acquiring an additional 8,468 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Consolidated Edison in the 2nd quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. grew its stake in Consolidated Edison by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock worth $1,473,000 after acquiring an additional 296 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.

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