Consolidated Edison (NYSE:ED) Given a $88.00 Price Target at KeyCorp

KeyCorp set a $88.00 target price on Consolidated Edison (NYSE:ED - Free Report) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an underweight rating on the utilities provider's stock.

ED has been the topic of several other reports. Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, April 9th. Morgan Stanley dropped their price target on Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Barclays boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, UBS Group upped their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of "Hold" and an average target price of $105.09.

Consolidated Edison Price Performance

ED stock traded up $0.42 during mid-day trading on Wednesday, hitting $101.02. 1,813,453 shares of the stock were exchanged, compared to its average volume of 2,409,340. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The business has a fifty day moving average price of $101.68 and a 200 day moving average price of $101.72. Consolidated Edison has a 12 month low of $87.28 and a 12 month high of $114.87. The stock has a market capitalization of $36.40 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 3.21 and a beta of 0.26.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The company 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 8.61% and a net margin of 11.98%. During the same quarter in the prior year, the firm posted $2.15 EPS. On average, sell-side analysts anticipate 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 paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.37%. Consolidated Edison's dividend payout ratio (DPR) is 62.85%.

Institutional Investors Weigh In On Consolidated Edison

Institutional investors have recently bought and sold shares of the business. Revolve Wealth Partners LLC boosted its holdings 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 valued at $332,000 after purchasing an additional 441 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Consolidated Edison by 2.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 8,246 shares of the utilities provider's stock valued at $736,000 after purchasing an additional 175 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of Consolidated Edison by 16.4% during the 4th quarter. Cibc World Markets Corp now owns 54,666 shares of the utilities provider's stock valued at $4,878,000 after purchasing an additional 7,711 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Consolidated Edison by 25.9% in the 4th quarter. Parallel Advisors LLC now owns 11,328 shares of the utilities provider's stock valued at $1,011,000 after acquiring an additional 2,332 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Consolidated Edison by 8.1% in the 4th quarter. Signaturefd LLC now owns 13,128 shares of the utilities provider's stock valued at $1,171,000 after acquiring an additional 982 shares during the last quarter. Hedge funds and other institutional investors 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.