Consolidated Edison, Inc. (ED) Receives $80.32 Average Target Price from Brokerages

Consolidated Edison, Inc. (NYSE:ED) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $80.32.

A number of brokerages recently commented on ED. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price target for the company. in a research report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Bank of America began coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target for the company. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th.

Shares of Consolidated Edison (NYSE ED) traded down $0.04 during trading hours on Thursday, reaching $84.75. 967,812 shares of the company were exchanged, compared to its average volume of 1,770,000. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79. The firm has a market capitalization of $26,270.00, a P/E ratio of 21.24, a P/E/G ratio of 10.36 and a beta of 0.10. Consolidated Edison has a 1 year low of $72.13 and a 1 year high of $89.70.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same quarter in the previous year, the business earned $1.51 EPS. analysts predict that Consolidated Edison will post 4.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.26%. Consolidated Edison’s payout ratio is 69.17%.

Several hedge funds have recently bought and sold shares of ED. Fiera Capital Corp raised its position in shares of Consolidated Edison by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 13 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Consolidated Edison by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 18 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Consolidated Edison by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,688 shares of the utilities provider’s stock worth $1,834,000 after purchasing an additional 59 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of Consolidated Edison by 1.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 9,812 shares of the utilities provider’s stock worth $792,000 after purchasing an additional 106 shares during the last quarter. Finally, Bank of Hawaii raised its position in shares of Consolidated Edison by 0.7% during the 2nd quarter. Bank of Hawaii now owns 16,649 shares of the utilities provider’s stock worth $1,346,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 55.50% of the company’s stock.

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About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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