Shares of Consolidated Edison, Inc. (NYSE:ED) have been assigned an average rating of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $84.41.

ED has been the topic of a number of research reports. ValuEngine downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp initiated coverage on Consolidated Edison in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Credit Suisse Group dropped their target price on Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a report on Thursday, August 8th. Barclays reiterated a “hold” rating and issued a $90.00 target price on shares of Consolidated Edison in a report on Thursday, June 20th. Finally, Morgan Stanley dropped their target price on Consolidated Edison from $93.00 to $91.00 and set an “underweight” rating on the stock in a report on Friday, August 16th.

NYSE ED traded up $0.26 on Friday, hitting $90.19. 1,695,700 shares of the company were exchanged, compared to its average volume of 1,857,652. The company’s 50 day moving average price is $87.69 and its 200-day moving average price is $86.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.62 and a quick ratio of 0.56. The firm has a market capitalization of $29.87 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 10.43 and a beta of 0.08. Consolidated Edison has a twelve month low of $73.29 and a twelve month high of $91.58.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.67 billion. Consolidated Edison had a return on equity of 8.04% and a net margin of 10.71%. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, equities analysts expect that Consolidated Edison will post 4.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th will be given a $0.74 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $2.96 annualized dividend and a dividend yield of 3.28%. Consolidated Edison’s dividend payout ratio is 68.52%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its position in shares of Consolidated Edison by 4.1% in the second quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 115 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Consolidated Edison by 2.7% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock valued at $384,000 after purchasing an additional 116 shares in the last quarter. 6 Meridian raised its stake in shares of Consolidated Edison by 1.9% in the second quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock valued at $552,000 after purchasing an additional 117 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of Consolidated Edison by 5.5% in the second quarter. Valmark Advisers Inc. now owns 2,510 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 131 shares in the last quarter. Finally, OLD National Bancorp IN raised its stake in shares of Consolidated Edison by 0.5% in the first quarter. OLD National Bancorp IN now owns 29,556 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 136 shares in the last quarter. 59.67% 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 3.5 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 1,622 customers in parts of Manhattan.

Featured Article: Trading Options- What is a Strangle?

Analyst Recommendations for Consolidated Edison (NYSE:ED)

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.