Consolidated Edison (NYSE:ED) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other equities analysts also recently weighed in on the stock. Barclays lifted their target price on shares of Consolidated Edison from $79.00 to $83.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Goldman Sachs Group upgraded shares of Consolidated Edison from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $72.00 to $73.00 in a research note on Monday, November 5th. Bank of America reduced their target price on shares of Consolidated Edison from $87.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Citigroup lifted their target price on shares of Consolidated Edison from $79.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 16th. Finally, Zacks Investment Research upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $77.36.

Shares of ED stock opened at $81.63 on Wednesday. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 4.78 and a beta of 0.04. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 0.62. Consolidated Edison has a 52 week low of $71.12 and a 52 week high of $89.70.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.17 billion. Consolidated Edison had a net margin of 12.60% and a return on equity of 8.64%. During the same quarter last year, the company earned $1.47 earnings per share. Research analysts predict that Consolidated Edison will post 4.29 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Consolidated Edison by 0.6% during the third quarter. BlackRock Inc. now owns 27,868,538 shares of the utilities provider’s stock valued at $2,123,304,000 after acquiring an additional 179,165 shares in the last quarter. Vanguard Group Inc. grew its stake in Consolidated Edison by 1.5% during the third quarter. Vanguard Group Inc. now owns 23,911,264 shares of the utilities provider’s stock valued at $1,821,799,000 after acquiring an additional 356,339 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Consolidated Edison by 22.8% during the third quarter. Bank of New York Mellon Corp now owns 3,581,782 shares of the utilities provider’s stock valued at $272,896,000 after acquiring an additional 664,252 shares in the last quarter. Legal & General Group Plc grew its stake in Consolidated Edison by 9.1% during the third quarter. Legal & General Group Plc now owns 3,543,862 shares of the utilities provider’s stock valued at $269,955,000 after acquiring an additional 296,813 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Consolidated Edison by 7.6% during the third quarter. Renaissance Technologies LLC now owns 3,051,400 shares of the utilities provider’s stock valued at $232,486,000 after acquiring an additional 215,200 shares in the last quarter. 58.03% of the stock is owned by institutional investors.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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