Vetr lowered shares of Consolidated Edison Inc. (NYSE:ED) from a buy rating to a hold rating in a research note issued to investors on Tuesday. They currently have $72.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Group restated a hold rating on shares of Consolidated Edison in a research note on Monday, August 1st. Evercore ISI upgraded Consolidated Edison from a sell rating to a hold rating and set a $76.00 price target on the stock in a research note on Monday, September 26th. Deutsche Bank AG upgraded Consolidated Edison from a sell rating to a hold rating and increased their price target for the company from $73.17 to $74.00 in a research note on Monday, October 24th. They noted that the move was a valuation call. Zacks Investment Research cut Consolidated Edison from a hold rating to a sell rating in a research note on Wednesday, September 21st. Finally, Citigroup Inc. initiated coverage on Consolidated Edison in a research note on Friday, August 12th. They issued a neutral rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $74.36.

Shares of Consolidated Edison (NYSE:ED) traded down 1.39% during midday trading on Tuesday, hitting $69.59. 1,135,105 shares of the stock traded hands. The stock has a 50 day moving average of $73.84 and a 200 day moving average of $75.89. Consolidated Edison has a 1-year low of $60.30 and a 1-year high of $81.88. The company has a market capitalization of $21.21 billion and a P/E ratio of 17.14.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, November 14th. Consolidated Edison’s payout ratio is 66.34%.

Several hedge funds have recently made changes to their positions in the stock. Tortoise Investment Management LLC raised its stake in shares of Consolidated Edison by 380.2% in the second quarter. Tortoise Investment Management LLC now owns 1,263 shares of the company’s stock worth $102,000 after buying an additional 1,000 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Consolidated Edison during the second quarter worth approximately $105,000. Coconut Grove Bank raised its stake in shares of Consolidated Edison by 51.7% in the second quarter. Coconut Grove Bank now owns 1,312 shares of the company’s stock worth $105,000 after buying an additional 447 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Consolidated Edison by 62.5% in the second quarter. TCI Wealth Advisors Inc. now owns 1,347 shares of the company’s stock worth $108,000 after buying an additional 518 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its stake in shares of Consolidated Edison by 68.0% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,050 shares of the company’s stock worth $119,000 after buying an additional 425 shares during the last quarter. 54.47% of the stock is currently owned by hedge funds and other institutional investors.

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).

5 Day Chart for NYSE:ED

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