Consolidated Edison, Inc. (NYSE:ED) has been assigned an average rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $81.15.
A number of research firms recently commented on ED. UBS Group began coverage on shares of Consolidated Edison in a research note on Friday, February 2nd. They set a “neutral” rating and a $80.00 price objective on the stock. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. began coverage on shares of Consolidated Edison in a research report on Friday, January 12th. They issued an “underweight” rating and a $78.00 price target on the stock. Guggenheim restated a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.
Consolidated Edison (ED) traded up $0.78 during midday trading on Friday, hitting $75.51. 1,358,353 shares of the company were exchanged, compared to its average volume of 2,339,735. Consolidated Edison has a fifty-two week low of $72.63 and a fifty-two week high of $89.70. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $23,670.00, a price-to-earnings ratio of 18.92, a PEG ratio of 8.81 and a beta of 0.03.
Institutional investors have recently bought and sold shares of the stock. WFG Advisors LP boosted its stake in shares of Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after buying an additional 214 shares during the period. AllSquare Wealth Management LLC bought a new position in Consolidated Edison in the 3rd quarter worth $113,000. Calton & Associates Inc. bought a new position in Consolidated Edison in the 4th quarter worth $119,000. Asset Dedication LLC bought a new position in Consolidated Edison in the 4th quarter worth $183,000. Finally, Round Table Services LLC bought a new position in Consolidated Edison in the 4th quarter worth $200,000. 56.02% of the stock is owned by hedge funds and other institutional investors.
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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).
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