Consolidated Edison Inc (NYSE:ED) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $75.63.
Several brokerages have recently issued reports on ED. BMO Capital Markets reiterated a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a report on Friday, May 5th. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. BidaskClub upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG upped their price target on shares of Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, Jefferies Group LLC downgraded Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price objective for the company from $88.00 to $83.50 in a report on Tuesday, June 13th.
Shares of Consolidated Edison (ED) opened at 84.06 on Monday. The company’s 50-day moving average price is $82.18 and its 200-day moving average price is $78.94. The firm has a market capitalization of $25.67 billion, a PE ratio of 19.36 and a beta of 0.08. Consolidated Edison has a 12-month low of $68.76 and a 12-month high of $85.13.
Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts anticipate that Consolidated Edison will post $4.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.28%. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
In related news, Director Linda S. Sanford acquired 900 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $79.74 per share, with a total value of $71,766.00. Following the transaction, the director now directly owns 8,748 shares of the company’s stock, valued at $697,565.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 1,319 shares of company stock worth $106,510 in the last three months. Insiders own 0.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ED. Gulf International Bank UK Ltd boosted its position in shares of Consolidated Edison by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 94,744 shares of the utilities provider’s stock valued at $7,357,000 after buying an additional 1,350 shares during the last quarter. Forte Capital LLC ADV boosted its position in shares of Consolidated Edison by 5.3% in the first quarter. Forte Capital LLC ADV now owns 8,189 shares of the utilities provider’s stock valued at $636,000 after buying an additional 414 shares during the last quarter. Creative Planning boosted its position in shares of Consolidated Edison by 2.0% in the first quarter. Creative Planning now owns 76,314 shares of the utilities provider’s stock valued at $5,927,000 after buying an additional 1,473 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Consolidated Edison by 0.8% in the first quarter. Raymond James Trust N.A. now owns 26,402 shares of the utilities provider’s stock valued at $2,050,000 after buying an additional 219 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Consolidated Edison by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 265,336 shares of the utilities provider’s stock valued at $20,606,000 after buying an additional 7,507 shares during the last quarter. 55.61% of the stock is currently owned by institutional investors and hedge funds.
Consolidated Edison Company Profile
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).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with our FREE daily email newsletter.