Consolidated Edison (NYSE:ED) Price Target Raised to $113.00 at UBS Group

Consolidated Edison (NYSE:ED) had its target price raised by research analysts at UBS Group from $110.00 to $113.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective points to a potential upside of 4.29% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Mizuho upped their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday. Scotiabank upped their target price on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Barclays lifted their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Price Performance

Shares of NYSE:ED traded down $0.13 on Friday, hitting $108.35. The company’s stock had a trading volume of 660,402 shares, compared to its average volume of 1,989,837. The company has a market capitalization of $37.57 billion, a PE ratio of 20.66, a PEG ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The company has a 50-day simple moving average of $97.52 and a 200 day simple moving average of $98.39. Consolidated Edison has a 1 year low of $87.16 and a 1 year high of $109.78.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Sell-side analysts forecast that Consolidated Edison will post 5.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Consolidated Edison in the 3rd quarter worth $776,000. JPMorgan Chase & Co. raised its stake in Consolidated Edison by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after buying an additional 82,985 shares in the last quarter. Hennessy Advisors Inc. raised its stake in Consolidated Edison by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 143,136 shares of the utilities provider’s stock worth $12,772,000 after buying an additional 3,900 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Consolidated Edison by 102.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 430,279 shares of the utilities provider’s stock worth $38,394,000 after buying an additional 217,981 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Consolidated Edison by 81.4% during the 4th quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider’s stock valued at $885,000 after acquiring an additional 4,451 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

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 3.7 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.