Consolidated Edison (NYSE:ED) Lowered to "Underweight" Rating by KeyCorp

Consolidated Edison (NYSE:ED - Get Free Report) was downgraded by equities researchers at KeyCorp from a "sector weight" rating to an "underweight" rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $90.00 target price on the utilities provider's stock. KeyCorp's price objective would suggest a potential downside of 10.46% from the company's previous close.

Several other research firms have also issued reports on ED. UBS Group raised their price target on Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Wells Fargo & Company increased their price objective on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citigroup lifted their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, April 9th. Scotiabank upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, Barclays increased their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $104.36.

Consolidated Edison Trading Down 2.9%

Shares of ED opened at $100.51 on Wednesday. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a market cap of $36.21 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 3.05 and a beta of 0.29. The firm has a 50 day moving average price of $108.62 and a 200-day moving average price of $99.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The business had revenue of $4.80 billion during the quarter, compared to analysts' expectations of $4.21 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. During the same quarter in the previous year, the business earned $2.15 EPS. As a group, equities research analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $27,000. Alpine Bank Wealth Management acquired a new position in Consolidated Edison during the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison in the first quarter valued at $33,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC lifted 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 buying an additional 120 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.