Consolidated Edison Inc (NYSE:ED) Receives Average Rating of “Reduce” from Analysts

Shares of Consolidated Edison Inc (NYSE:ED) have received a consensus recommendation of “Reduce” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $104.20.

A number of research firms have recently commented on ED. KeyCorp dropped their price objective on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. UBS Group raised their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 price objective on shares of Consolidated Edison in a research report on Friday, January 23rd. Barclays dropped their target price on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Consolidated Edison

Several institutional investors and hedge funds have recently added to or reduced their stakes in ED. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison in the third quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $26,000. Aventura Private Wealth LLC purchased a new position in Consolidated Edison in the 4th quarter valued at $27,000. Westfuller Advisors LLC acquired a new position in Consolidated Edison in the 4th quarter valued at $27,000. Finally, Dorato Capital Management purchased a new position in Consolidated Edison during the 4th quarter worth $28,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

Shares of ED stock opened at $111.65 on Friday. The company has a market cap of $40.30 billion, a P/E ratio of 19.52, a PEG ratio of 2.99 and a beta of 0.38. The firm has a fifty day moving average price of $101.82 and a 200 day moving average price of $100.53. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. Consolidated Edison has a 12 month low of $94.49 and a 12 month high of $114.87.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s payout ratio is presently 59.44%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.