Consolidated Edison, Inc. (NYSE:ED) Receives Average Rating of “Hold” from Analysts

Shares of Consolidated Edison, Inc. (NYSE:ED) have earned an average recommendation of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $98.19.

ED has been the topic of several research reports. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday. Scotiabank boosted their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Finally, Barclays reduced their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC lifted its stake in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 24,211 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Consolidated Edison by 17,683.9% during the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares in the last quarter. Cetera Advisors LLC raised its stake in Consolidated Edison by 74.5% in the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 7,324 shares during the last quarter. Czech National Bank lifted its holdings in Consolidated Edison by 8.5% in the 2nd quarter. Czech National Bank now owns 65,902 shares of the utilities provider’s stock valued at $5,893,000 after purchasing an additional 5,161 shares in the last quarter. Finally, National Pension Service boosted its stake in Consolidated Edison by 7.0% during the 3rd quarter. National Pension Service now owns 468,572 shares of the utilities provider’s stock worth $48,792,000 after purchasing an additional 30,838 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.3 %

NYSE:ED opened at $98.36 on Wednesday. Consolidated Edison has a 12 month low of $85.85 and a 12 month high of $107.75. The firm has a fifty day simple moving average of $102.01 and a 200-day simple moving average of $98.09. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $34.07 billion, a P/E ratio of 18.52, a PEG ratio of 3.32 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. On average, equities research analysts anticipate that Consolidated Edison will post 5.33 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is currently 62.52%.

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.