Consolidated Edison (NYSE:ED) Price Target Raised to $101.00

Consolidated Edison (NYSE:ED) had its price objective boosted by Barclays from $100.00 to $101.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an underweight rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley set a $94.00 price target on Consolidated Edison and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Mizuho boosted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Citigroup raised their target price on shares of Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 9th. Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, UBS Group increased their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.80.

Consolidated Edison Stock Up 0.5 %

ED opened at $111.04 on Monday. Consolidated Edison has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a market capitalization of $40.01 billion, a P/E ratio of 21.19, a P/E/G ratio of 3.05 and a beta of 0.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm’s fifty day moving average price is $108.39 and its two-hundred day moving average price is $99.93.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. On average, analysts anticipate that Consolidated Edison will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.06%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.85%.

Hedge Funds Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Consolidated Edison by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock worth $3,788,319,000 after acquiring an additional 488,752 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 8,984,022 shares of the utilities provider’s stock worth $799,684,000 after purchasing an additional 130,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock worth $430,129,000 after acquiring an additional 271,088 shares during the period. Norges Bank bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $399,824,000. Finally, Northern Trust Corp boosted its holdings in shares of Consolidated Edison by 10.2% in the fourth quarter. Northern Trust Corp now owns 4,207,753 shares of the utilities provider’s stock worth $375,458,000 after acquiring an additional 390,708 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.