Consolidated Edison, Inc. (NYSE:ED) Given Consensus Rating of “Hold” by Brokerages

Shares of Consolidated Edison, Inc. (NYSE:ED) have received a consensus rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $98.19.

A number of research firms have recently commented on ED. Bank of America increased their price objective on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays dropped their price objective on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a report on Friday, November 8th. Evercore ISI upgraded Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $101.72 on Wednesday. The stock’s 50-day moving average is $101.85 and its two-hundred day moving average is $98.13. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a market cap of $35.24 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 3.31 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Analysts forecast that Consolidated Edison will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a yield of 3.26%. Consolidated Edison’s payout ratio is 62.52%.

Institutional Trading of Consolidated Edison

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Consolidated Edison during the third quarter worth $30,000. Beacon Capital Management LLC raised its holdings in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the first quarter worth $33,000. Finally, TruNorth Capital Management LLC acquired a new position in Consolidated Edison during the second quarter worth $33,000. 66.29% of the stock is owned by institutional investors and hedge funds.

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.