Analysts Set Consolidated Edison, Inc. (NYSE:ED) PT at $87.96

Shares of Consolidated Edison, Inc. (NYSE:ED) have been assigned an average rating of “Reduce” from the twelve brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $87.96.

Several equities analysts have recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price target on the stock. UBS Group decreased their price target on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. Scotiabank raised their price target on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, February 20th. Barclays lifted their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a research note on Thursday, January 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ED. Financial Gravity Asset Management Inc. grew its holdings in shares of Consolidated Edison by 215.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Main Street Group LTD acquired a new position in Consolidated Edison during the 4th quarter worth approximately $25,000. Level Financial Advisors Inc. purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $26,000. Retirement Group LLC increased its position in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Finally, Tyler Stone Wealth Management purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.8 %

Shares of NYSE ED opened at $89.32 on Tuesday. The company’s 50-day simple moving average is $88.90 and its 200-day simple moving average is $89.52. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market cap of $30.86 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 8.36 and a beta of 0.35. Consolidated Edison has a 52-week low of $80.46 and a 52-week high of $100.92.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. Equities analysts predict that Consolidated Edison will post 5.3 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were issued a $0.83 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s payout ratio is 46.24%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.