Barclays Issues Pessimistic Forecast for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its price target decreased by investment analysts at Barclays from $99.00 to $92.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential downside of 1.32% from the stock’s previous close.

ED has been the subject of several other research reports. Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target for the company. Morgan Stanley lowered their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their target price for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Finally, Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.00.

Consolidated Edison Trading Up 2.9 %

Shares of ED stock opened at $93.23 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a market capitalization of $32.30 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.38. The company has a 50 day moving average price of $92.88 and a 200 day moving average price of $98.07. Consolidated Edison has a fifty-two week low of $85.85 and a fifty-two week high of $107.75.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Equities research analysts predict that Consolidated Edison will post 5.35 EPS for the current fiscal year.

Institutional Trading of Consolidated Edison

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in Consolidated Edison in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in Consolidated Edison during the 3rd quarter worth $30,000. AlphaMark Advisors LLC purchased a new position in Consolidated Edison during the 4th quarter worth $27,000. FSA Wealth Management LLC purchased a new position in Consolidated Edison during the 3rd quarter worth $55,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Consolidated Edison during the 3rd quarter worth $55,000. Hedge funds and other 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.