Consolidated Edison (NYSE:ED) Upgraded by Mizuho to "Outperform" Rating

Consolidated Edison (NYSE:ED - Get Free Report) was upgraded by stock analysts at Mizuho from a "neutral" rating to an "outperform" rating in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a $107.00 target price on the utilities provider's stock. Mizuho's price objective would suggest a potential upside of 9.03% from the stock's current price.

A number of other analysts also recently issued reports on ED. KeyCorp downgraded shares of Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a report on Wednesday, May 14th. Barclays raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Citigroup increased their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company upped their price objective 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Consolidated Edison presently has an average rating of "Hold" and a consensus target price of $105.27.

Consolidated Edison Stock Performance

Shares of ED stock opened at $98.13 on Monday. The company's 50-day moving average is $104.85 and its 200 day moving average is $100.79. The company has a market capitalization of $35.36 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.27. Consolidated Edison has a one year low of $87.28 and a one year high of $114.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28.

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 the consensus estimate of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. The business had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the prior year, the business posted $2.15 earnings per share. Sell-side analysts expect that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Consolidated Edison

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Consolidated Edison by 1.6% in the first 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 increased its stake in Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider's stock worth $799,684,000 after acquiring an additional 130,234 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 acquiring an additional 48,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $430,129,000 after acquiring an additional 271,088 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Consolidated Edison in the fourth quarter valued at $399,824,000. 66.29% of the stock is owned by institutional investors.

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.

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