Research Analysts Set Expectations for Consolidated Edison, Inc.’s Q1 2021 Earnings (NYSE:ED)

Consolidated Edison, Inc. (NYSE:ED) – KeyCorp issued their Q1 2021 earnings per share estimates for shares of Consolidated Edison in a report issued on Monday, April 12th. KeyCorp analyst S. Karp anticipates that the utilities provider will earn $1.35 per share for the quarter. KeyCorp also issued estimates for Consolidated Edison’s Q2 2021 earnings at $0.48 EPS, Q4 2021 earnings at $0.92 EPS, FY2021 earnings at $4.16 EPS and FY2022 earnings at $4.38 EPS.

Several other analysts also recently issued reports on the company. Morgan Stanley boosted their price target on Consolidated Edison from $65.00 to $67.00 and gave the company an “underweight” rating in a research note on Thursday, March 25th. TheStreet downgraded Consolidated Edison from a “b-” rating to a “c” rating in a research note on Monday, March 22nd. Royal Bank of Canada reduced their price target on Consolidated Edison from $80.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, January 22nd. Evercore ISI downgraded Consolidated Edison from an “in-line” rating to an “underperform” rating in a research note on Thursday, January 21st. Finally, Mizuho reduced their price target on Consolidated Edison from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, January 22nd. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $75.08.

Shares of NYSE ED opened at $77.19 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.03. Consolidated Edison has a 12 month low of $65.56 and a 12 month high of $90.00. The stock has a 50 day moving average of $71.87 and a 200-day moving average of $74.11. The company has a market capitalization of $26.45 billion, a P/E ratio of 19.11, a P/E/G ratio of 7.80 and a beta of 0.11.

Consolidated Edison (NYSE:ED) last issued its earnings results on Wednesday, February 17th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.01). Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Alliance raised its holdings in shares of Consolidated Edison by 4.5% during the 3rd quarter. Wealth Alliance now owns 3,290 shares of the utilities provider’s stock worth $256,000 after buying an additional 142 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Consolidated Edison by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,681 shares of the utilities provider’s stock worth $405,000 after buying an additional 144 shares in the last quarter. Doyle Wealth Management raised its holdings in shares of Consolidated Edison by 4.4% during the 4th quarter. Doyle Wealth Management now owns 3,586 shares of the utilities provider’s stock worth $259,000 after buying an additional 150 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Consolidated Edison by 6.3% during the 4th quarter. Bessemer Group Inc. now owns 2,559 shares of the utilities provider’s stock worth $185,000 after buying an additional 152 shares in the last quarter. Finally, Wealth Architects LLC raised its holdings in shares of Consolidated Edison by 2.9% during the 4th quarter. Wealth Architects LLC now owns 5,655 shares of the utilities provider’s stock worth $409,000 after buying an additional 159 shares in the last quarter. 62.44% of the stock is owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Wednesday, May 19th will be issued a $0.775 dividend. This represents a $3.10 annualized dividend and a yield of 4.02%. Consolidated Edison’s dividend payout ratio is presently 70.94%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,576 customers in parts of Manhattan.

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