Consolidated Edison (NYSE: ED) has recently received a number of price target changes and ratings updates:

  • 10/3/2017 – Consolidated Edison was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the last year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. Also, the company faces interest rate risk owing to variable rate debt and to new debt financing needed to fund capital requirements.”
  • 10/2/2017 – Consolidated Edison was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the last year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance.”
  • 9/26/2017 – Consolidated Edison was downgraded by analysts at Evercore ISI from an “in-line” rating to an “underperform” rating. They now have a $74.00 price target on the stock.
  • 9/25/2017 – Consolidated Edison was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the last year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. The company is also subject to penalties for non-compliance of regulations imposed by federal, state as well as local authorities in relation to environmental issues.”
  • 9/22/2017 – Consolidated Edison was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $92.00 price target on the stock. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the past one year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. The company is also subject to penalties for non-compliance of regulations imposed by federal, state as well as local authorities in relation to environmental issues.”
  • 9/19/2017 – Consolidated Edison was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the past one year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. The company is also subject to penalties for non-compliance of regulations imposed by federal, state as well as local authorities in relation to environmental issues.”
  • 9/12/2017 – Consolidated Edison was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the past one year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance.”
  • 9/11/2017 – Consolidated Edison was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. A stable financial position backed by a strong cash generation capacity enables the company to follow a disciplined capital spending program. The company is also making notable progress in generating renewable energy. Moreover, the company outperformed its broader industry in the past one year. However, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. Again, stringent utility regulations and interruption in operation of its generating units could be detrimental to growth.”
  • 9/8/2017 – Consolidated Edison had its price target raised by analysts at Morgan Stanley from $78.00 to $80.00. They now have an “underweight” rating on the stock.
  • 8/31/2017 – Consolidated Edison had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $83.50 price target on the stock.
  • 8/22/2017 – Consolidated Edison was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/10/2017 – Consolidated Edison had its price target raised by analysts at Morgan Stanley from $75.00 to $78.00. They now have an “underweight” rating on the stock.
  • 8/7/2017 – Consolidated Edison was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Consolidated Edison posted disappointing results in the second quarter, when compared with the Zacks Consensus Estimate. Evidently, the company missed the mark on both the top and bottom-line fronts. Results also saw a downward movement year over year. On a brighter note, the company raised the lower end of its earnings per share guidance range for 2017. Moreover, Consolidated Edison has a history of favorable rate decisions by regulatory authorities, which will likely encourage it to invest more in infrastructure improvements. The company is also making notable progress in generating renewable energy. Yet, the company underperformed its broader industry in the past one year. Also, disruption in wholesale energy markets may affect its ability to meet customers’ energy needs and thereby adversely affect its performance. Again, stringent utility regulations and interruption in operation of its generating units could be detrimental to growth.”

Consolidated Edison Inc (ED) opened at 80.90 on Wednesday. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $86.16. The firm’s 50-day moving average is $83.38 and its 200 day moving average is $81.51. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 19.57 and a beta of 0.09.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results 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 business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same quarter last year, the firm earned $0.60 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. Consolidated Edison’s payout ratio is currently 66.67%.

In related news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have bought 158 shares of company stock worth $13,022. Insiders own 0.20% of the company’s stock.

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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