Consolidated Edison (NYSE:ED) Price Target Raised to $110.00

Consolidated Edison (NYSE:ED) had its target price raised by stock analysts at UBS Group from $105.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price target suggests a potential upside of 8.16% from the stock’s current price.

Other research analysts also recently issued reports about the company. Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday. Morgan Stanley dropped their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.50.

Consolidated Edison Stock Performance

NYSE ED traded up $2.02 on Tuesday, hitting $101.70. 419,114 shares of the company’s stock traded hands, compared to its average volume of 2,413,392. The firm’s 50-day moving average price is $92.26 and its two-hundred day moving average price is $97.95. The firm has a market capitalization of $35.23 billion, a PE ratio of 19.41, a P/E/G ratio of 3.05 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.75.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Consolidated Edison during the 3rd quarter worth $27,000. AlphaMark Advisors LLC purchased a new position in Consolidated Edison during the fourth quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Consolidated Edison during the third quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at about $35,000. Finally, Fairway Wealth LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth approximately $36,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

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.