Consolidated Edison (NYSE:ED) Hits New 12-Month High – Should You Buy?

Consolidated Edison, Inc. (NYSE:ED) reached a new 52-week high on Monday . The stock traded as high as $108.00 and last traded at $108.06, with a volume of 259114 shares. The stock had previously closed at $106.41.

Analyst Upgrades and Downgrades

ED has been the topic of several recent analyst reports. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Barclays upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. UBS Group increased their price target on shares of Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley dropped their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.50.

Consolidated Edison Trading Up 1.4 %

The company has a fifty day simple moving average of $95.96 and a two-hundred day simple moving average of $98.17. The company has a market capitalization of $37.43 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. On average, analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were paid a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.15%. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Hedge Funds Weigh In On Consolidated Edison

Several hedge funds and other institutional investors have recently modified their holdings of ED. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the fourth quarter worth about $27,000. Fairway Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter worth approximately $36,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $35,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter valued at $35,000. Finally, Centricity Wealth Management LLC bought a new position in Consolidated Edison in the 4th quarter valued at $39,000. 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.