Consolidated Edison Given Consensus Rating of “Hold” by Brokerages (NYSE:ED)
Shares of Consolidated Edison (NYSE:ED) have received an average recommendation of “Hold” from the twelve brokerages that are covering the stock, AR Network reports. Nine investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $57.44.
A number of analysts have recently weighed in on ED shares. Analysts at UBS AG cut their price target on shares of Consolidated Edison from $57.00 to $54.00 in a research note to investors on Tuesday, January 7th. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Consolidated Edison from a “buy” rating to a “neutral” rating in a research note to investors on Friday, January 3rd. Finally, analysts at Jefferies Group cut their price target on shares of Consolidated Edison from $49.00 to $46.00 in a research note to investors on Friday, January 3rd. They now have a “buy” rating on the stock.
Shares of Consolidated Edison (NYSE:ED) traded down 1.23% during mid-day trading on Monday, hitting $53.74. 3,375,377 shares of the company’s stock traded hands. Consolidated Edison has a 52-week low of $52.85 and a 52-week high of $64.03. The stock has a 50-day moving average of $54.21 and a 200-day moving average of $56.38. The company has a market cap of $15.740 billion and a price-to-earnings ratio of 15.50.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, March 15th. Investors of record on Wednesday, February 12th will be given a dividend of 0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.62.
Consolidated Edison, Inc (NYSE:ED) is a holding company, which owns Consolidated Edison Company of New York, Inc (CECONY), which delivers electricity, natural gas and steam to customers in New York City and Westchester County; Orange and Rockland Utilities, Inc (O&R) (together with CECONY referred to as the Utilities), which delivers electricity and natural gas to customers primarily located in southeastern New York, and northern New Jersey and northeastern Pennsylvania, and competitive energy businesses, which provide retail and wholesale electricity supply and energy services.
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