ValuEngine upgraded shares of Consolidated Edison (NYSE:ED) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Consolidated Edison from a hold rating to a buy rating and set a $90.00 target price for the company in a report on Wednesday, September 12th. Bank of America lifted their target price on Consolidated Edison from $84.50 to $85.00 and gave the stock a buy rating in a report on Wednesday, September 26th. Morgan Stanley lowered their target price on Consolidated Edison from $81.00 to $77.00 and set a sell rating for the company in a report on Friday, September 21st. Goldman Sachs Group upgraded Consolidated Edison from a sell rating to a neutral rating and lifted their target price for the stock from $72.00 to $73.00 in a report on Monday, November 5th. Finally, UBS Group lifted their target price on Consolidated Edison from $83.00 to $84.00 and gave the stock a neutral rating in a report on Friday, September 21st. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $77.36.

Shares of ED stock opened at $82.46 on Wednesday. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 4.75 and a beta of 0.04. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 0.97. 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 issued its earnings results on Thursday, November 1st. The utilities provider reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.11. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.17 billion. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. During the same period in the previous year, the company posted $1.47 earnings per share. On average, research analysts anticipate that Consolidated Edison will post 4.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be issued a dividend of $0.715 per share. The ex-dividend date is Tuesday, November 13th. This represents a $2.86 annualized dividend and a dividend yield of 3.47%. Consolidated Edison’s dividend payout ratio is 69.93%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. increased its holdings in shares of Consolidated Edison by 385.5% during the second quarter. Itau Unibanco Holding S.A. now owns 1,442 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,145 shares in the last quarter. Peak Capital Management LLC bought a new stake in Consolidated Edison during the second quarter worth $114,000. Psagot Investment House Ltd. bought a new stake in Consolidated Edison during the third quarter worth $122,000. ELM Advisors LLC bought a new stake in Consolidated Edison during the third quarter worth $133,000. Finally, TLP Group LLC bought a new stake in Consolidated Edison during the third quarter worth $152,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.

Consolidated Edison Company Profile

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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