Consolidated Edison, Inc. (NYSE:ED) Given Average Rating of “Hold” by Brokerages

Shares of Consolidated Edison, Inc. (NYSE:ED) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $102.40.

Several analysts recently weighed in on ED shares. Mizuho upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. UBS Group lifted their target price on Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Morgan Stanley upped their target price on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. Finally, Barclays raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Monday, February 24th.

Consolidated Edison Stock Performance

Shares of ED stock opened at $108.81 on Tuesday. The stock has a fifty day moving average of $99.56 and a 200 day moving average of $98.51. The firm has a market capitalization of $37.73 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.05 and a beta of 0.30. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. Consolidated Edison has a 52 week low of $87.28 and a 52 week high of $109.44.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, research analysts expect that Consolidated Edison will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.85 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Wednesday, February 19th. Consolidated Edison’s payout ratio is presently 64.89%.

Hedge Funds Weigh In On Consolidated Edison

A number of hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC lifted its holdings in shares of Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after buying an additional 104 shares in the last quarter. Jacobi Capital Management LLC increased its position in Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 104 shares during the last quarter. Glen Eagle Advisors LLC increased its holdings in shares of Consolidated Edison by 6.2% in the 4th quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock worth $170,000 after buying an additional 111 shares during the last quarter. Richwood Investment Advisors LLC lifted its holdings in shares of Consolidated Edison by 2.3% in the 4th quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after acquiring an additional 115 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock worth $1,160,000 after acquiring an additional 124 shares in the last quarter. 66.29% of the stock is currently 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.