Consolidated Edison Inc. (NYSE:ED) had its price objective lowered by investment analysts at Barclays PLC from $80.00 to $77.00 in a research report issued on Wednesday. The firm presently has an “equal weight” rating on the stock. Barclays PLC’s price objective points to a potential downside of 2.35% from the stock’s current price.

Several other equities analysts have also issued reports on ED. Goldman Sachs Group Inc. cut their price target on Consolidated Edison from $72.00 to $70.00 and set a “sell” rating on the stock in a research note on Wednesday, September 14th. Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Vetr raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $77.14 price target on the stock in a research note on Wednesday, September 14th. Mizuho upped their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Jefferies Group raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday, September 14th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.51.

Shares of Consolidated Edison (NYSE:ED) opened at 78.85 on Wednesday. The firm has a market capitalization of $24.00 billion and a price-to-earnings ratio of 20.43. Consolidated Edison has a one year low of $60.30 and a one year high of $81.88. The stock’s 50 day moving average price is $76.23 and its 200 day moving average price is $76.13.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same period last year, the business posted $0.78 EPS. Analysts expect that Consolidated Edison will post $3.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th were issued a $0.67 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 3.40%. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.25%.

Several large investors have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its stake in shares of Consolidated Edison by 22.5% in the second quarter. Evercore Wealth Management LLC now owns 8,504 shares of the company’s stock valued at $684,000 after buying an additional 1,560 shares during the period. Macquarie Group Ltd. increased its stake in shares of Consolidated Edison by 5.0% in the second quarter. Macquarie Group Ltd. now owns 84,600 shares of the company’s stock valued at $6,805,000 after buying an additional 4,000 shares during the period. Williams Jones & Associates LLC increased its stake in shares of Consolidated Edison by 55.1% in the second quarter. Williams Jones & Associates LLC now owns 2,947 shares of the company’s stock valued at $237,000 after buying an additional 1,047 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Consolidated Edison during the second quarter valued at about $988,000. Finally, Kentucky Retirement Systems acquired a new stake in shares of Consolidated Edison during the second quarter valued at about $2,081,000. Institutional investors own 54.76% of the company’s stock.

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) 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).

5 Day Chart for NYSE:ED

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