Shares of Consolidated Edison Inc. (NYSE:ED) were down 1.8% on Monday . The company traded as low as $77.38 and last traded at $77.39, with a volume of 1,156,658 shares changing hands. The stock had previously closed at $78.79.

A number of analysts have recently weighed in on ED shares. Zacks Investment Research upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Jefferies Group raised their price target on shares of Consolidated Edison to $80.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Mizuho raised their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Vetr upgraded shares of Consolidated Edison from a “strong sell” rating to a “sell” rating and set a $70.50 price target on the stock in a report on Tuesday, July 12th. Finally, Citigroup Inc. started coverage on shares of Consolidated Edison in a report on Friday, August 12th. They issued a “neutral” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $73.03.

The firm has a market capitalization of $22.61 billion and a P/E ratio of 19.25. The stock has a 50-day moving average price of $79.35 and a 200-day moving average price of $75.38.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.09. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities research analysts predict that Consolidated Edison Inc. will post $3.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 17th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.57%.

Other hedge funds have recently added to or reduced their stakes in the company. Investment Management of Virginia LLC raised its stake in Consolidated Edison by 4.7% in the fourth quarter. Investment Management of Virginia LLC now owns 16,590 shares of the company’s stock worth $1,066,000 after buying an additional 750 shares during the last quarter. Stephens Inc. AR raised its stake in Consolidated Edison by 0.7% in the fourth quarter. Stephens Inc. AR now owns 19,957 shares of the company’s stock worth $1,283,000 after buying an additional 141 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Consolidated Edison during the fourth quarter worth $1,534,000. Suntrust Banks Inc. raised its stake in Consolidated Edison by 31.5% in the fourth quarter. Suntrust Banks Inc. now owns 39,816 shares of the company’s stock worth $2,558,000 after buying an additional 9,538 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Consolidated Edison by 32.0% in the fourth quarter. Victory Capital Management Inc. now owns 43,575 shares of the company’s stock worth $2,801,000 after buying an additional 10,559 shares during 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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