Consolidated Edison (NYSE:ED) PT Raised to $106.00 at UBS Group

Consolidated Edison (NYSE:ED) had its target price upped by stock analysts at UBS Group from $105.00 to $106.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price would indicate a potential upside of 2.56% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Bank of America raised their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on Consolidated Edison from $75.00 to $82.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Guggenheim upped their price objective on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, Scotiabank upped their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $93.42.

Consolidated Edison Stock Up 1.2 %

ED opened at $103.35 on Friday. The stock’s 50 day moving average price is $100.08 and its 200 day moving average price is $94.66. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The stock has a market cap of $35.74 billion, a P/E ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.36. Consolidated Edison has a 12 month low of $80.46 and a 12 month high of $105.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, research analysts predict that Consolidated Edison will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Consolidated Edison

Several hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in Consolidated Edison by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 2,000,741 shares of the utilities provider’s stock worth $181,687,000 after buying an additional 123,654 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Consolidated Edison by 0.8% in the second quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock worth $134,323,000 after acquiring an additional 11,785 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Consolidated Edison by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock worth $113,845,000 after acquiring an additional 125,859 shares in the last quarter. Clean Energy Transition LLP boosted its position in Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after purchasing an additional 623,787 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Consolidated Edison by 14.6% in the first quarter. BNP Paribas Financial Markets now owns 720,573 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 91,559 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

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.