Shares of Consolidated Edison Inc. (NYSE:ED) traded down 1.8% during trading on Thursday . The company traded as low as $79.85 and last traded at $80.09, with a volume of 944,050 shares. The stock had previously closed at $81.55.

Several equities analysts recently issued reports on the company. Zacks Investment Research cut Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Evercore ISI cut Consolidated Edison from a “hold” rating to a “sell” rating and boosted their price target for the company from $69.50 to $72.50 in a research report on Wednesday. BMO Capital Markets assumed coverage on Consolidated Edison in a research report on Wednesday, June 22nd. They issued a “hold” rating and a $79.00 price target on the stock. Mizuho boosted their price target on Consolidated Edison from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, May 12th. Finally, Deutsche Bank AG cut Consolidated Edison from a “hold” rating to a “sell” rating and boosted their price target for the company from $62.00 to $70.00 in a research report on Monday, April 18th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $70.09.

The stock has a market cap of $23.63 billion and a price-to-earnings ratio of 20.93. The company has a 50 day moving average of $76.64 and a 200 day moving average of $72.97.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by $0.03. During the same quarter last year, the business posted $1.25 EPS. On average, equities research analysts expect that Consolidated Edison Inc. will post $3.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 16th. This represents a $2.68 annualized dividend and a dividend yield of 3.33%.

Several hedge funds have modified their holdings of the stock. Mutual of America Capital Management LLC raised its stake in shares of Consolidated Edison by 0.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 43,618 shares of the company’s stock valued at $2,803,000 after buying an additional 121 shares during the period. Stephens Inc. AR raised its stake in shares of Consolidated Edison by 0.7% in the fourth quarter. Stephens Inc. AR now owns 19,957 shares of the company’s stock valued at $1,283,000 after buying an additional 141 shares during the period. Brown Advisory Inc. raised its stake in shares of Consolidated Edison by 1.4% in the fourth quarter. Brown Advisory Inc. now owns 19,114 shares of the company’s stock valued at $1,228,000 after buying an additional 256 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Consolidated Edison by 1.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,156 shares of the company’s stock valued at $1,231,000 after buying an additional 339 shares during the period. Finally, ARGI Investment Services LLC raised its stake in shares of Consolidated Edison by 3.1% in the fourth quarter. ARGI Investment Services LLC now owns 20,697 shares of the company’s stock valued at $1,330,000 after buying an additional 627 shares during the period.

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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