Consolidated Edison (NYSE:ED) Price Target Raised to $101.00 at Barclays

Consolidated Edison (NYSE:ED) had its price objective increased by Barclays from $100.00 to $101.00 in a report issued on Monday morning,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

Several other research analysts have also commented on the stock. Scotiabank lifted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Mizuho raised their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their target price on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Guggenheim boosted their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $105.80.

Consolidated Edison Price Performance

NYSE:ED opened at $109.53 on Monday. The business’s 50-day moving average is $107.99 and its 200 day moving average is $99.78. Consolidated Edison has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market capitalization of $39.45 billion, a P/E ratio of 20.90, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the company posted $2.15 earnings per share. On average, equities research analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.10%. Consolidated Edison’s payout ratio is presently 64.89%.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently bought and sold shares of ED. Alpine Bank Wealth Management acquired a new stake in shares of Consolidated Edison in the 1st quarter worth $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison in the 1st quarter worth approximately $33,000. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the 4th quarter worth approximately $27,000. Elite Financial Inc. purchased a new stake in Consolidated Edison during the 1st quarter worth approximately $38,000. Finally, Fairway Wealth LLC acquired a new position in Consolidated Edison during the 4th quarter valued at approximately $36,000. Institutional investors own 66.29% of the company’s stock.

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.