Consolidated Edison Inc. (NYSE:ED)’s share price dropped 1.8% during mid-day trading on Thursday . The stock traded as low as $79.85 and last traded at $80.09, with a volume of 944,050 shares trading hands. The stock had previously closed at $81.55.

Several research firms have recently weighed in on ED. Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Mizuho raised their target price on Consolidated Edison from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, May 12th. Deutsche Bank AG cut Consolidated Edison from a “hold” rating to a “sell” rating and raised their target price for the stock from $62.00 to $70.00 in a report on Monday, April 18th. BMO Capital Markets assumed coverage on Consolidated Edison in a report on Wednesday, June 22nd. They issued a “hold” rating and a $79.00 target price on the stock. Finally, Evercore ISI cut Consolidated Edison from a “hold” rating to a “sell” rating and raised their target price for the stock from $69.50 to $72.50 in a report on Wednesday. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.09.

The stock has a market capitalization of $23.52 billion and a PE ratio of 20.83. The firm’s 50-day moving average price is $76.39 and its 200 day moving average price is $72.85.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.03. During the same quarter in the previous year, the firm earned $1.25 EPS. Equities research analysts forecast that Consolidated Edison Inc. will post $3.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, May 16th.

A number of hedge funds and institutional investors have bought and sold shares of ED. Russell Frank Co increased its position in Consolidated Edison by 3.6% in the fourth quarter. Russell Frank Co now owns 221,093 shares of the company’s stock worth $14,427,000 after buying an additional 7,671 shares in the last quarter. Sei Investments Co. increased its position in Consolidated Edison by 105.6% in the fourth quarter. Sei Investments Co. now owns 22,691 shares of the company’s stock worth $1,459,000 after buying an additional 11,653 shares in the last quarter. Cadence Capital Management LLC increased its position in Consolidated Edison by 4.6% in the fourth quarter. Cadence Capital Management LLC now owns 19,664 shares of the company’s stock worth $1,264,000 after buying an additional 867 shares in the last quarter. TD Asset Management Inc. increased its position in Consolidated Edison by 11.0% in the fourth quarter. TD Asset Management Inc. now owns 225,587 shares of the company’s stock worth $14,498,000 after buying an additional 22,300 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Consolidated Edison by 3.0% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 24,382 shares of the company’s stock worth $1,567,000 after buying an additional 700 shares in the last quarter.

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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

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