Consolidated Edison, Inc. (ED) Receives Average Recommendation of “Hold” from Brokerages

Consolidated Edison, Inc. (NYSE:ED) has been assigned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $75.71.

Several research firms recently issued reports on ED. Credit Suisse Group raised their price target on Consolidated Edison from $77.00 to $78.00 and gave the stock an “underperform” rating in a research report on Monday, February 25th. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Morgan Stanley raised their price target on Consolidated Edison from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 12th. Finally, Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $78.07 price target on the stock. in a research report on Tuesday, February 12th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Consolidated Edison by 3.8% in the 4th quarter. BlackRock Inc. now owns 28,920,573 shares of the utilities provider’s stock worth $2,211,265,000 after buying an additional 1,052,035 shares during the period. Vanguard Group Inc. lifted its holdings in Consolidated Edison by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after buying an additional 356,339 shares during the period. Vanguard Group Inc lifted its holdings in Consolidated Edison by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 23,911,264 shares of the utilities provider’s stock worth $1,821,799,000 after buying an additional 356,339 shares during the period. Geode Capital Management LLC lifted its holdings in Consolidated Edison by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 4,460,033 shares of the utilities provider’s stock worth $340,474,000 after buying an additional 398,820 shares during the period. Finally, Northern Trust Corp lifted its holdings in Consolidated Edison by 4.1% in the 4th quarter. Northern Trust Corp now owns 4,254,873 shares of the utilities provider’s stock worth $325,328,000 after buying an additional 166,793 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Shares of Consolidated Edison stock traded up $0.28 during trading on Wednesday, hitting $83.90. 1,284,458 shares of the stock traded hands, compared to its average volume of 1,941,909. The company has a current ratio of 0.62, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $27.34 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 9.70 and a beta of 0.12. Consolidated Edison has a 52 week low of $71.12 and a 52 week high of $85.87.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 21st. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Consolidated Edison had a return on equity of 8.42% and a net margin of 11.20%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the company earned $0.80 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, analysts predict that Consolidated Edison will post 4.36 earnings per share for the current fiscal year.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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