Analysts Set Consolidated Edison, Inc. (ED) Target Price at $81.79

Shares of Consolidated Edison, Inc. (NYSE:ED) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $81.79.

A number of research firms have weighed in on ED. Zacks Investment Research downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, April 18th. Morgan Stanley upped their target price on Consolidated Edison from $74.00 to $77.00 and gave the stock an “underweight” rating in a research report on Monday, April 16th. ValuEngine downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. UBS began coverage on Consolidated Edison in a research report on Friday, February 2nd. They set a “neutral” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase increased their price objective on Consolidated Edison from $75.00 to $78.00 and gave the company a “sell” rating in a research report on Tuesday, April 10th.

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A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in Consolidated Edison by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 900,013 shares of the utilities provider’s stock valued at $70,147,000 after purchasing an additional 4,890 shares during the period. Summit Trail Advisors LLC raised its stake in Consolidated Edison by 6,165.4% during the 1st quarter. Summit Trail Advisors LLC now owns 135,708 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 133,542 shares during the period. Gyroscope Capital Management Group LLC raised its stake in Consolidated Edison by 28.7% during the 1st quarter. Gyroscope Capital Management Group LLC now owns 19,959 shares of the utilities provider’s stock valued at $1,556,000 after purchasing an additional 4,452 shares during the period. Moors & Cabot Inc. raised its stake in Consolidated Edison by 6.0% during the 1st quarter. Moors & Cabot Inc. now owns 13,312 shares of the utilities provider’s stock valued at $1,038,000 after purchasing an additional 757 shares during the period. Finally, Xact Kapitalforvaltning AB raised its stake in Consolidated Edison by 7.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 31,572 shares of the utilities provider’s stock valued at $2,461,000 after purchasing an additional 2,126 shares during the period. 57.09% of the stock is currently owned by institutional investors.

Shares of Consolidated Edison opened at $74.14 on Friday, Marketbeat reports. Consolidated Edison has a 12-month low of $73.35 and a 12-month high of $89.70. The company has a market capitalization of $22.94 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 4.33 and a beta of 0.05. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.61.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 3rd. The utilities provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.05. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.23 billion. Consolidated Edison had a return on equity of 8.61% and a net margin of 12.86%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. equities research analysts forecast that Consolidated Edison will post 4.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Wednesday, May 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.86%. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.

About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).