Consolidated Edison (NYSE:ED) had its target price lifted by Citigroup from $79.00 to $80.00 in a research note released on Tuesday. They currently have a neutral rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Scotiabank assumed coverage on shares of Consolidated Edison in a research report on Tuesday, July 24th. They set a sell rating and a $32.00 target price on the stock. Morgan Stanley boosted their target price on shares of Consolidated Edison from $77.00 to $81.00 and gave the stock a sell rating in a research report on Tuesday, September 11th. Zacks Investment Research cut shares of Consolidated Edison from a hold rating to a sell rating in a research report on Thursday, October 4th. UBS Group boosted their target price on shares of Consolidated Edison from $83.00 to $84.00 and gave the stock a neutral rating in a research report on Friday, September 21st. Finally, Barclays started coverage on shares of Consolidated Edison in a research report on Tuesday, July 10th. They set an equal weight rating and a $81.00 target price on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Consolidated Edison has an average rating of Hold and a consensus target price of $77.80.

Shares of ED stock opened at $76.06 on Tuesday. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 5.96 and a beta of 0.02. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.63. Consolidated Edison has a fifty-two week low of $71.12 and a fifty-two week high of $89.70.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison will post 4.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were issued a $0.715 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $2.86 annualized dividend and a yield of 3.76%. Consolidated Edison’s dividend payout ratio is presently 69.93%.

A number of institutional investors and hedge funds have recently bought and sold shares of ED. BlackRock Inc. raised its holdings in Consolidated Edison by 7.0% in the second quarter. BlackRock Inc. now owns 27,689,373 shares of the utilities provider’s stock valued at $2,159,218,000 after acquiring an additional 1,815,861 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Consolidated Edison by 2,609.5% in the second quarter. Assenagon Asset Management S.A. now owns 577,357 shares of the utilities provider’s stock valued at $45,022,000 after acquiring an additional 556,048 shares in the last quarter. FMR LLC raised its holdings in Consolidated Edison by 248.6% in the second quarter. FMR LLC now owns 580,731 shares of the utilities provider’s stock valued at $45,286,000 after acquiring an additional 414,146 shares in the last quarter. Bank of Nova Scotia raised its holdings in Consolidated Edison by 384.9% in the second quarter. Bank of Nova Scotia now owns 371,373 shares of the utilities provider’s stock valued at $28,959,000 after acquiring an additional 294,781 shares in the last quarter. Finally, Unigestion Holding SA acquired a new stake in Consolidated Edison in the second quarter valued at $21,198,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,600 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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