Consolidated Edison (NYSE:ED) had its target price lowered by investment analysts at Morgan Stanley from $80.00 to $74.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential downside of 3.93% from the stock’s current price.
ED has been the subject of a number of other research reports. KeyCorp reissued a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Zacks Investment Research cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Bank of America initiated coverage on Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Consolidated Edison in a research report on Friday, January 12th. They set an “underweight” rating and a $78.00 price objective for the company. Finally, ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $81.32.
Consolidated Edison (ED) traded up $0.34 on Tuesday, reaching $77.03. The company had a trading volume of 2,173,746 shares, compared to its average volume of 2,370,000. The firm has a market capitalization of $23,880.00, a PE ratio of 19.31, a price-to-earnings-growth ratio of 9.00 and a beta of 0.03. Consolidated Edison has a 52-week low of $72.63 and a 52-week high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.
About Consolidated Edison
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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