Consolidated Edison Given New $60.00 Price Target at Barclays (ED)
Equities researchers at Barclays boosted their price target on shares of Consolidated Edison (NYSE:ED) from $59.00 to $60.00 in a research report issued on Friday. Barclays’ target price would indicate a potential upside of 5.45% from the stock’s previous close.
ED has been the subject of a number of other recent research reports. Analysts at CRT Capital reiterated a “fairly valued” rating on shares of Consolidated Edison in a research note on Monday, July 21st. They now have a $58.00 price target on the stock, up previously from $57.00. Separately, 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $58.86.
Consolidated Edison (NYSE:ED) opened at 56.90 on Friday. Consolidated Edison has a 52-week low of $52.23 and a 52-week high of $60.76. The stock has a 50-day moving average of $56.62 and a 200-day moving average of $55.43. The company has a market cap of $16.666 billion and a P/E ratio of 13.21.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.11. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Consolidated Edison will post $3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Monday, August 11th.
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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