Consolidated Edison, Inc. (NYSE:ED – Get Free Report) has been assigned a consensus rating of “Reduce” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $88.00.
Several analysts recently issued reports on the stock. StockNews.com began coverage on shares of Consolidated Edison in a research note on Thursday, October 5th. They set a “hold” rating for the company. Mizuho cut their price target on Consolidated Edison from $95.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, September 5th. Barclays dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Wells Fargo & Company raised shares of Consolidated Edison from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $96.00 to $94.00 in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada lowered their price target on Consolidated Edison from $97.00 to $92.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 6th.
Hedge Funds Weigh In On Consolidated Edison
Consolidated Edison Trading Up 0.1 %
Shares of Consolidated Edison stock opened at $89.34 on Friday. Consolidated Edison has a twelve month low of $80.46 and a twelve month high of $100.92. The firm’s 50-day moving average price is $88.36 and its 200 day moving average price is $91.61. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $30.84 billion, a PE ratio of 13.24, a P/E/G ratio of 8.78 and a beta of 0.38.
Consolidated Edison Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $3.24 annualized dividend and a dividend yield of 3.63%. Consolidated Edison’s dividend payout ratio is currently 48.00%.
About Consolidated Edison
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 3.6 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.
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