Consolidated Edison (NYSE:ED)‘s stock had its “hold” rating restated by Guggenheim in a report released on Wednesday. They currently have a $88.00 price objective on the utilities provider’s stock. Guggenheim’s price objective indicates a potential upside of 5.29% from the company’s current price.
Several other analysts have also weighed in on ED. Morgan Stanley boosted their target price on shares of Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, September 8th. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Monday, September 11th. Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 target price for the company. in a research note on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research note on Friday, October 20th. Finally, Bank of America started coverage on shares of Consolidated Edison in a research note on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $80.63.
Shares of Consolidated Edison (ED) traded down $1.37 during trading hours on Wednesday, hitting $83.58. 1,998,200 shares of the company were exchanged, compared to its average volume of 1,672,500. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $25,690.00, a price-to-earnings ratio of 20.95, a PEG ratio of 9.97 and a beta of 0.10. Consolidated Edison has a fifty-two week low of $72.13 and a fifty-two week high of $89.70.
Several institutional investors and hedge funds have recently made changes to their positions in ED. WFG Advisors LP boosted its holdings in shares of Consolidated Edison by 19.6% during the second quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 214 shares during the period. AllSquare Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter valued at $113,000. Exencial Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the second quarter valued at $204,000. Day & Ennis LLC acquired a new position in shares of Consolidated Edison during the second quarter valued at $205,000. Finally, Tower Bridge Advisors acquired a new position in shares of Consolidated Edison during the third quarter valued at $208,000. 55.50% of the stock is owned by institutional investors.
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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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