Consolidated Edison (NYSE:ED) Now Covered by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group started coverage on shares of Consolidated Edison (NYSE:ED) in a report released on Wednesday, Marketbeat Ratings reports. The firm set a “hold” rating and a $108.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 6.32% from the company’s current price.

Several other equities analysts also recently weighed in on ED. Wells Fargo & Company lifted their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank upped their target price on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Bank of America increased their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Morgan Stanley boosted their price target on shares of Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.96.

Consolidated Edison Stock Performance

NYSE:ED opened at $101.58 on Wednesday. Consolidated Edison has a fifty-two week low of $85.15 and a fifty-two week high of $105.99. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The company has a 50 day moving average price of $102.31 and a 200 day moving average price of $95.92. The stock has a market capitalization of $35.13 billion, a P/E ratio of 19.50, a PEG ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities research analysts forecast that Consolidated Edison will post 5.3 EPS for the current year.

Institutional Investors Weigh In On Consolidated Edison

Several hedge funds and other institutional investors have recently made changes to their positions in ED. Beacon Capital Management LLC boosted its holdings in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison in the 1st quarter valued at $33,000. TruNorth Capital Management LLC acquired a new stake in Consolidated Edison during the 2nd quarter worth $33,000. Finally, Quarry LP purchased a new stake in Consolidated Edison in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

About Consolidated Edison

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.