Consolidated Edison (NYSE:ED) PT Lowered to $80.00

Consolidated Edison (NYSE:EDGet Rating) had its target price reduced by Morgan Stanley from $82.00 to $80.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 18.48% from the company’s current price.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their target price on Consolidated Edison from $65.00 to $83.00 and gave the stock a “sell” rating in a report on Thursday, March 31st. Royal Bank of Canada increased their target price 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. Credit Suisse Group assumed coverage on shares of Consolidated Edison in a report on Monday, April 25th. They set a “neutral” rating and a $100.00 price target on the stock. Wolfe Research raised Consolidated Edison from an “underperform” rating to a “peer perform” rating and set a $82.00 target price on the stock in a research report on Thursday, February 17th. Finally, StockNews.com lowered Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.58.

NYSE ED traded up $2.32 on Monday, reaching $98.13. The company’s stock had a trading volume of 20,136 shares, compared to its average volume of 2,070,486. Consolidated Edison has a twelve month low of $71.17 and a twelve month high of $99.22. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.93 and a current ratio of 1.01. The firm’s 50 day moving average is $94.41 and its two-hundred day moving average is $87.14. The stock has a market cap of $34.77 billion, a PE ratio of 22.66, a PEG ratio of 10.57 and a beta of 0.23.

Consolidated Edison (NYSE:EDGet Rating) last released its earnings results on Thursday, May 5th. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.04). The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a return on equity of 7.66% and a net margin of 10.88%. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities research analysts anticipate that Consolidated Edison will post 4.49 EPS for the current fiscal year.

In other Consolidated Edison news, Director John Mcavoy sold 74,715 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $84.69, for a total value of $6,327,613.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have bought 536 shares of company stock valued at $49,448. Company insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. DB Fitzpatrick & Co Inc acquired a new stake in Consolidated Edison in the fourth quarter worth about $25,000. Godsey & Gibb Associates acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $26,000. Shore Point Advisors LLC bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $26,000. Tyler Stone Wealth Management acquired a new stake in Consolidated Edison during the 4th quarter worth $26,000. Finally, CVA Family Office LLC bought a new position in Consolidated Edison during the fourth quarter worth about $28,000. 65.73% of the stock is owned by institutional investors.

Consolidated Edison Company Profile (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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