Consolidated Edison Inc (ED) Given Average Recommendation of “Hold” by Analysts
Shares of Consolidated Edison Inc (NYSE:ED) have been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $75.63.
ED has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, May 26th. BidaskClub cut shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Barclays PLC reiterated an “equal weight” rating and set a $82.00 price target (up previously from $76.00) on shares of Consolidated Edison in a research report on Sunday, April 23rd. BMO Capital Markets reiterated a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research report on Monday, May 15th. Finally, Jefferies Group LLC cut shares of Consolidated Edison from a “buy” rating to a “hold” rating and reduced their price target for the company from $88.00 to $83.50 in a research report on Tuesday, June 13th.
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Large investors have recently made changes to their positions in the company. CAPROCK Group Inc. boosted its stake in shares of Consolidated Edison by 0.9% in the first quarter. CAPROCK Group Inc. now owns 4,246 shares of the utilities provider’s stock worth $330,000 after buying an additional 36 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Consolidated Edison by 24.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,316 shares of the utilities provider’s stock worth $1,811,000 after buying an additional 4,650 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Consolidated Edison by 4.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 4,628 shares of the utilities provider’s stock worth $359,000 after buying an additional 189 shares during the period. Hexavest Inc. boosted its stake in shares of Consolidated Edison by 44.9% in the first quarter. Hexavest Inc. now owns 980,872 shares of the utilities provider’s stock worth $76,175,000 after buying an additional 303,977 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Consolidated Edison by 40.7% in the first quarter. State of Alaska Department of Revenue now owns 64,564 shares of the utilities provider’s stock worth $5,013,000 after buying an additional 18,691 shares during the period. Institutional investors and hedge funds own 54.90% of the company’s stock.
Consolidated Edison (NYSE ED) traded up 0.61% during midday trading on Friday, reaching $83.53. The company’s stock had a trading volume of 2,024,020 shares. The company has a market cap of $25.53 billion, a PE ratio of 20.21 and a beta of 0.08. Consolidated Edison has a 12 month low of $68.76 and a 12 month high of $85.13. The stock has a 50-day moving average price of $82.00 and a 200 day moving average price of $79.57.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period last year, the company posted $0.60 earnings per share. Analysts expect that Consolidated Edison will post $4.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
Consolidated Edison Company Profile
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).
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