Shares of Consolidated Edison, Inc. (NYSE:ED) have received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $84.41.
Several equities research analysts recently issued reports on ED shares. Morgan Stanley boosted their price objective on Consolidated Edison from $87.00 to $91.00 and gave the company an “underweight” rating in a report on Friday, June 14th. ValuEngine downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp started coverage on Consolidated Edison in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Credit Suisse Group cut their price objective on Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a report on Thursday, August 8th. Finally, Bank of America upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and cut their price target for the stock from $96.00 to $94.00 in a report on Friday, April 26th. They noted that the move was a valuation call.
Shares of ED stock traded up $0.18 on Tuesday, hitting $86.90. The stock had a trading volume of 592,822 shares, compared to its average volume of 1,579,605. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.62 and a quick ratio of 0.56. The firm has a market capitalization of $28.98 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 10.05 and a beta of 0.10. Consolidated Edison has a 1 year low of $73.29 and a 1 year high of $90.51. The firm has a 50 day moving average of $87.47.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, August 13th. This represents a $2.96 annualized dividend and a yield of 3.41%. Consolidated Edison’s dividend payout ratio (DPR) is 68.52%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of Consolidated Edison by 2.7% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 116 shares during the last quarter. 6 Meridian boosted its position in shares of Consolidated Edison by 1.9% in the 2nd quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock valued at $552,000 after purchasing an additional 117 shares during the period. Valmark Advisers Inc. boosted its position in shares of Consolidated Edison by 5.5% in the 2nd quarter. Valmark Advisers Inc. now owns 2,510 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 131 shares during the period. OLD National Bancorp IN boosted its position in shares of Consolidated Edison by 0.5% in the 1st quarter. OLD National Bancorp IN now owns 29,556 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 136 shares during the period. Finally, Round Table Services LLC boosted its position in shares of Consolidated Edison by 2.3% in the 2nd quarter. Round Table Services LLC now owns 6,140 shares of the utilities provider’s stock valued at $538,000 after purchasing an additional 138 shares during the period. Institutional investors own 58.34% of the company’s stock.
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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