Consolidated Edison, Inc. Plans Quarterly Dividend of $0.63 (ED)
Consolidated Edison (NYSE:ED) announced a quarterly dividend on Thursday, July 17th, Stock Ratings Network reports. Stockholders of record on Wednesday, August 13th will be paid a dividend of 0.63 per share on Monday, September 15th. This represents a $2.52 annualized dividend and a dividend yield of 4.45%.
A number of research firms have recently commented on ED. Analysts at Zacks reiterated a “neutral” rating on shares of Consolidated Edison in a research note on Monday, June 9th. They now have a $58.00 price target on the stock. On a related note, analysts at Ned Davis Research upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Consolidated Edison in a research note on Monday, May 12th. They now have a $59.00 price target on the stock, down previously from $61.00. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.13.
Consolidated Edison (NYSE:ED) traded down 0.64% during mid-day trading on Thursday, hitting $56.31. The stock had a trading volume of 1,650,920 shares. Consolidated Edison has a 52-week low of $52.23 and a 52-week high of $60.85. The stock’s 50-day moving average is $55. and its 200-day moving average is $55.1. The company has a market cap of $16.493 billion and a P/E ratio of 13.53.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.18. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Analysts expect that Consolidated Edison will post $3.76 EPS for the current fiscal year.
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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