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

Shares of Consolidated Edison, Inc. (NYSE:EDGet Rating) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $79.42.

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Consolidated Edison from $65.00 to $83.00 and gave the stock a “sell” rating in a report on Thursday, March 31st. StockNews.com upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, March 25th. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $78.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Monday, January 31st. Royal Bank of Canada raised their price target on shares of Consolidated Edison from $88.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Monday, March 28th. Finally, Morgan Stanley raised their price target on shares of Consolidated Edison from $71.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 22nd.

Shares of ED stock opened at $98.03 on Friday. The firm has a market cap of $34.72 billion, a P/E ratio of 25.46, a P/E/G ratio of 10.93 and a beta of 0.22. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.02 and a quick ratio of 0.94. Consolidated Edison has a 1-year low of $71.17 and a 1-year high of $98.65. The firm has a fifty day moving average of $89.65 and a two-hundred day moving average of $83.30.

Consolidated Edison (NYSE:EDGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The utilities provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.15. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $2.97 billion. Consolidated Edison had a net margin of 9.84% and a return on equity of 7.63%. During the same period last year, the business earned $0.75 EPS. On average, sell-side analysts expect that Consolidated Edison will post 4.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Wednesday, February 16th were given a $0.79 dividend. The ex-dividend date was Tuesday, February 15th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 3.22%. Consolidated Edison’s dividend payout ratio (DPR) is currently 82.08%.

In other Consolidated Edison news, Director John Mcavoy sold 74,715 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $84.69, for a total transaction of $6,327,613.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders purchased 512 shares of company stock worth $46,801. 0.17% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ED. DB Fitzpatrick & Co Inc bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $25,000. Emfo LLC raised its position in shares of Consolidated Edison by 217.4% during the 3rd quarter. Emfo LLC now owns 365 shares of the utilities provider’s stock worth $26,000 after buying an additional 250 shares in the last quarter. Shore Point Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth about $26,000. Godsey & Gibb Associates acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $26,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $26,000. Institutional investors own 62.01% of the company’s stock.

About Consolidated Edison (Get Rating)

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 3.5 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 1,555 customers in parts of Manhattan.

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