Shares of Consolidated Edison Inc (NYSE:ED) have received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $75.58.
Several equities research analysts recently weighed in on the company. UBS AG lifted their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research report on Monday, May 8th. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. BMO Capital Markets restated a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research report on Monday, May 15th. Finally, Deutsche Bank AG lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a research report on Monday, May 8th.
In other Consolidated Edison news, Director Linda S. Sanford purchased 900 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the completion of the purchase, the director now directly owns 8,748 shares of the company’s stock, valued at $697,565.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought 1,240 shares of company stock valued at $100,090 in the last 90 days. Company insiders own 0.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ED. Stuart Chaussee & Associates Inc. boosted its stake in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the period. Tompkins Financial Corp purchased a new stake in Consolidated Edison during the first quarter worth approximately $118,000. Enterprise Financial Services Corp boosted its stake in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock worth $121,000 after buying an additional 38 shares during the period. Cypress Capital Management LLC WY boosted its stake in Consolidated Edison by 491.7% in the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after buying an additional 1,475 shares during the period. Finally, Atwood & Palmer Inc. boosted its stake in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock worth $141,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 55.90% of the company’s stock.
Shares of Consolidated Edison (NYSE:ED) traded up 0.11% during midday trading on Tuesday, reaching $82.38. 2,204,290 shares of the company’s stock were exchanged. The company’s 50 day moving average is $82.27 and its 200-day moving average is $78.63. Consolidated Edison has a 12 month low of $68.76 and a 12 month high of $85.13. The stock has a market cap of $25.16 billion, a PE ratio of 18.85 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company posted $1.18 earnings per share. Equities analysts forecast that Consolidated Edison will post $4.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio is currently 63.59%.
About Consolidated Edison
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).
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