Consolidated Edison Inc. (NYSE:ED) Given Average Rating of “Hold” by Brokerages
Shares of Consolidated Edison Inc. (NYSE:ED) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $74.71.
A number of research analysts recently weighed in on ED shares. Vetr upgraded shares of Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $75.75 price objective on the stock in a research report on Monday, July 18th. Jefferies Group increased their price objective on shares of Consolidated Edison to $80.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Evercore ISI downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating and increased their price objective for the company from $69.50 to $72.50 in a research report on Wednesday, July 6th. BMO Capital Markets assumed coverage on shares of Consolidated Edison in a report on Wednesday, June 22nd. They set a “hold” rating and a $79.00 target price for the company. Finally, Zacks Investment Research cut shares of Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st.
A number of institutional investors have recently bought and sold shares of ED. Janus Capital Management LLC boosted its position in Consolidated Edison by 96.7% in the second quarter. Janus Capital Management LLC now owns 2,229,835 shares of the company’s stock valued at $179,368,000 after buying an additional 1,096,076 shares during the last quarter. BlackRock Fund Advisors raised its position in Consolidated Edison by 13.7% in the second quarter. BlackRock Fund Advisors now owns 8,383,631 shares of the company’s stock valued at $674,379,000 after buying an additional 1,012,706 shares during the period. Vanguard Group Inc. raised its position in Consolidated Edison by 4.6% in the second quarter. Vanguard Group Inc. now owns 20,038,432 shares of the company’s stock valued at $1,611,891,000 after buying an additional 890,023 shares during the period. Bank of Montreal Can acquired a new position in Consolidated Edison during the second quarter valued at approximately $48,767,000. Finally, Emerald Acquisition Ltd. acquired a new position in Consolidated Edison during the second quarter valued at approximately $48,550,000. 54.76% of the stock is owned by institutional investors.
Consolidated Edison (NYSE:ED) traded down 1.87% during mid-day trading on Tuesday, hitting $72.85. 1,496,502 shares of the stock were exchanged. Consolidated Edison has a 52 week low of $60.30 and a 52 week high of $81.88. The company has a 50-day moving average of $75.97 and a 200-day moving average of $76.35. The stock has a market capitalization of $22.18 billion, a PE ratio of 18.88 and a beta of 0.01.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same quarter in the prior year, the company posted $0.78 EPS. On average, equities analysts predict that Consolidated Edison will post $3.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were paid a dividend of $0.67 per share. The ex-dividend date was Monday, August 15th. This represents a $2.68 annualized dividend and a yield of 3.61%. Consolidated Edison’s payout ratio is 69.25%.
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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