Traders Buy Shares of Consolidated Edison (ED) on Weakness

Investors bought shares of Consolidated Edison, Inc. (NYSE:ED) on weakness during trading on Tuesday. $52.46 million flowed into the stock on the tick-up and $26.62 million flowed out of the stock on the tick-down, for a money net flow of $25.84 million into the stock. Of all companies tracked, Consolidated Edison had the 20th highest net in-flow for the day. Consolidated Edison traded down ($1.37) for the day and closed at $83.58

A number of equities research analysts have recently commented on ED shares. Morgan Stanley increased their price target on shares of Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a report 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 price target on the stock in a report on Monday, September 11th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Bank of America started coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They set a “buy” rating and a $92.00 price target on the stock. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $80.32.

The firm has a market capitalization of $25,920.00, a PE ratio of 20.95, a price-to-earnings-growth ratio of 10.38 and a beta of 0.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.14 billion. Consolidated Edison had a net margin of 10.42% and a return on equity of 8.42%. During the same quarter last year, the company earned $1.51 EPS. research analysts forecast that Consolidated Edison, Inc. will post 4.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were given a dividend of $0.69 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.30%. Consolidated Edison’s dividend payout ratio (DPR) is 69.17%.

A number of institutional investors have recently modified their holdings of ED. WFG Advisors LP raised its position in Consolidated Edison by 19.6% in the second quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 214 shares during the period. AllSquare Wealth Management LLC bought a new position in Consolidated Edison in the third quarter worth approximately $113,000. Exencial Wealth Advisors LLC bought a new position in Consolidated Edison in the second quarter worth approximately $204,000. Day & Ennis LLC bought a new position in Consolidated Edison in the second quarter worth approximately $205,000. Finally, Tower Bridge Advisors bought a new position in Consolidated Edison in the third quarter worth approximately $208,000. Institutional investors own 55.50% of the company’s stock.

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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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