Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Consolidated Edison (NYSE:ED) in a report released on Friday, Marketbeat reports. The firm set an “underweight” rating and a $78.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.’s target price indicates a potential downside of 1.87% from the company’s current price.
Several other research analysts have also issued reports on ED. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price for the company. in a research report on Tuesday, September 26th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Monday, October 2nd. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Guggenheim reiterated a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a report on Wednesday, January 3rd. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $80.71.
Consolidated Edison (NYSE:ED) opened at $79.49 on Friday. Consolidated Edison has a 12-month low of $72.13 and a 12-month high of $89.70. The stock has a market capitalization of $24,647.38, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 9.33 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its stake in Consolidated Edison by 2.3% in the second quarter. Neuberger Berman Group LLC now owns 22,917 shares of the utilities provider’s stock worth $1,852,000 after buying an additional 511 shares in the last quarter. CIBC World Markets Inc. bought a new position in Consolidated Edison in the second quarter worth approximately $480,000. Northwestern Mutual Wealth Management Co. raised its stake in Consolidated Edison by 19.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,471 shares of the utilities provider’s stock worth $442,000 after buying an additional 901 shares in the last quarter. Fiera Capital Corp raised its stake in Consolidated Edison by 0.3% in the second quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock worth $395,000 after buying an additional 13 shares in the last quarter. Finally, WBI Investments Inc. raised its stake in Consolidated Edison by 231.5% in the second quarter. WBI Investments Inc. now owns 19,670 shares of the utilities provider’s stock worth $1,590,000 after buying an additional 13,736 shares in the last quarter. Hedge funds and other institutional investors own 55.50% of the company’s stock.
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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).
