Consolidated Edison (NYSE:ED) Price Target Raised to $112.00 at Mizuho

Key Points

• Mizuho has raised its price target for Consolidated Edison from $107.00 to $112.00, signaling a potential upside of 6.56% from the current stock price.
• The company's stock has received a mix of ratings with two analysts recommending "sell," six "hold," and three "buy," leading to an average rating of "Hold" with a target price of $105.20.
• In its latest quarter, Consolidated Edison reported $0.67 earnings per share, surpassing estimates and showing growth compared to the prior year's $0.59 EPS.

Consolidated Edison (NYSE:ED - Get Free Report) had its price target increased by equities research analysts at Mizuho from $107.00 to $112.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. Mizuho's target price would indicate a potential upside of 7.13% from the company's current price.

Several other research firms have also commented on ED. Barclays upped their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Wells Fargo & Company upped their price target 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. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley lowered their price target on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Finally, Guggenheim upped their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $105.20.

Consolidated Edison Stock Performance

Shares of ED traded down $0.45 during trading hours on Friday, reaching $104.55. 2,796,396 shares of the company traded hands, compared to its average volume of 2,027,847. The stock has a market capitalization of $37.67 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.33 and a beta of 0.24. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. Consolidated Edison has a 12-month low of $87.28 and a 12-month high of $114.87. The business has a fifty day moving average price of $101.66 and a 200-day moving average price of $103.18.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.68%. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts anticipate that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock worth $4,768,319,000 after purchasing an additional 661,432 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider's stock worth $979,204,000 after purchasing an additional 566,358 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider's stock worth $538,437,000 after purchasing an additional 48,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock worth $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Consolidated Edison by 10.2% during the 4th quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider's stock worth $375,458,000 after purchasing an additional 390,708 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

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.