Consolidated Edison Inc (ED) To Go Ex-Dividend on August 19th

Consolidated Edison Inc (NYSE:ED) announced a quarterly dividend on Thursday, July 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of 0.8875 per share by the utilities provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 19th.

Consolidated Edison has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 52 years. Consolidated Edison has a payout ratio of 59.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Consolidated Edison to earn $6.41 per share next year, which means the company should continue to be able to cover its $3.55 annual dividend with an expected future payout ratio of 55.4%.

Consolidated Edison Stock Up 0.0%

Consolidated Edison stock opened at $112.40 on Friday. The firm has a 50 day simple moving average of $108.49 and a 200 day simple moving average of $108.59. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. Consolidated Edison has a 1-year low of $94.96 and a 1-year high of $116.23. The firm has a market capitalization of $41.42 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.86 and a beta of 0.27.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ED. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Barclays decreased their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating for the company in a report on Monday, May 11th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.