ValuEngine upgraded shares of Consolidated Edison (NYSE:ED) from a hold rating to a buy rating in a report issued on Sunday.
Several other equities research analysts have also issued reports on ED. Morgan Stanley increased their price objective on shares of Consolidated Edison from $78.00 to $80.00 and gave the stock an underweight rating in a research report on Friday, September 8th. Zacks Investment Research raised shares of Consolidated Edison from a hold rating to a buy rating and set a $95.00 price objective for the company in a research report on Monday, September 11th. Evercore ISI downgraded shares of Consolidated Edison from an in-line rating to an underperform rating and set a $74.00 target price for the company. in a research note on Tuesday, September 26th. KeyCorp restated a hold rating on shares of Consolidated Edison in a research note on Friday, October 20th. Finally, Bank of America assumed coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They issued a buy rating and a $92.00 target price for the company. Five analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Consolidated Edison currently has a consensus rating of Hold and a consensus price target of $80.32.
Consolidated Edison (NYSE:ED) opened at $84.95 on Friday. Consolidated Edison has a 52-week low of $72.13 and a 52-week high of $89.70. The company has a market cap of $26,340.34, a P/E ratio of 21.24, a P/E/G ratio of 10.38 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company earned $1.51 EPS. equities research analysts expect that Consolidated Edison will post 4.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.25%. Consolidated Edison’s dividend payout ratio (DPR) is 69.00%.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Consolidated Edison by 1.8% in the 2nd quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock worth $1,983,672,000 after acquiring an additional 439,840 shares during the period. Vanguard Group Inc. increased its holdings in shares of Consolidated Edison by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock worth $1,763,600,000 after acquiring an additional 516,860 shares during the period. APG Asset Management N.V. increased its holdings in shares of Consolidated Edison by 38.2% in the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock worth $327,202,000 after acquiring an additional 1,121,200 shares during the period. Legal & General Group Plc increased its holdings in shares of Consolidated Edison by 5.2% in the 3rd quarter. Legal & General Group Plc now owns 2,930,589 shares of the utilities provider’s stock worth $236,432,000 after acquiring an additional 144,652 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Consolidated Edison by 25.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock worth $232,610,000 after acquiring an additional 582,457 shares during the period. Institutional investors own 55.50% of the company’s stock.
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About Consolidated Edison
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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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