Consolidated Edison Inc (NYSE:ED) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages have also recently weighed in on ED. Morgan Stanley upped their price target on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $83.50 price target on shares of Consolidated Edison in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Friday, September 22nd. Bank of America Corporation initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.96.

Shares of Consolidated Edison (NYSE:ED) opened at $87.19 on Friday. Consolidated Edison has a 52-week low of $68.76 and a 52-week high of $88.08. The firm has a market cap of $27,034.92, a P/E ratio of 21.74, a PEG ratio of 7.09 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company posted $1.51 EPS. research analysts expect that Consolidated Edison will post 4.1 earnings per share for the current fiscal year.

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In related news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the transaction, the chief executive officer now owns 24,017 shares in the company, valued at approximately $2,014,305.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have purchased 183 shares of company stock valued at $15,248. 0.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Fiera Capital Corp increased its stake in Consolidated Edison by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 13 shares in the last quarter. Sabal Trust CO increased its stake in Consolidated Edison by 0.6% during the 2nd quarter. Sabal Trust CO now owns 2,715 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 15 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Consolidated Edison by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 18 shares in the last quarter. Financial Architects Inc increased its stake in Consolidated Edison by 0.6% during the 2nd quarter. Financial Architects Inc now owns 3,378 shares of the utilities provider’s stock valued at $273,000 after purchasing an additional 19 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in Consolidated Edison by 0.3% during the 2nd quarter. United Asset Strategies Inc. now owns 6,749 shares of the utilities provider’s stock valued at $545,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 55.37% 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), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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