Brokerages Set Consolidated Edison Inc (NYSE:ED) Price Target at $108.07

Shares of Consolidated Edison Inc (NYSE:ED) have been given an average rating of “Reduce” by the fifteen ratings firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $108.0667.

A number of equities analysts have recently commented on ED shares. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a report on Tuesday, April 21st. Barclays decreased their target price on Consolidated Edison from $110.00 to $107.00 and set an “underweight” rating on the stock in a research report on Monday, May 11th. Mizuho reissued a “neutral” rating and set a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, June 2nd. Argus set a $112.00 target price on shares of Consolidated Edison in a report on Tuesday, June 23rd. Finally, KeyCorp raised their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st.

Institutional Trading of Consolidated Edison

Several hedge funds and other institutional investors have recently made changes to their positions in ED. GW&K Investment Management LLC boosted its position in Consolidated Edison by 28.5% in the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. Meadowbrook Wealth Management LLC increased its position in shares of Consolidated Edison by 2.2% during the fourth quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 100 shares during the last quarter. bLong Financial LLC lifted its stake in shares of Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after acquiring an additional 100 shares in the last quarter. Sachetta LLC lifted its stake in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its holdings in Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 105 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.0%

Shares of ED stock opened at $112.40 on Monday. The stock’s fifty day moving average price is $108.49 and its two-hundred day moving average price is $108.59. The company has a market cap of $41.42 billion, a PE ratio of 18.92, a P/E/G ratio of 2.86 and a beta of 0.27. Consolidated Edison has a fifty-two week low of $94.96 and a fifty-two week high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.