Consolidated Edison Inc. (ED) Raised to Buy at Vetr Inc.
Vetr upgraded shares of Consolidated Edison Inc. (NYSE:ED) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $77.14 target price on the stock.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Consolidated Edison from a sell rating to a hold rating in a research note on Tuesday, May 24th. Mizuho increased their target price on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a neutral rating in a report on Monday, August 8th. Jefferies Group upgraded shares of Consolidated Edison from a hold rating to a buy rating and set a $82.00 target price for the company in a report on Wednesday, September 14th. Goldman Sachs Group Inc. lowered their target price on shares of Consolidated Edison from $72.00 to $70.00 and set a sell rating for the company in a report on Wednesday, September 14th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a hold rating to a sell rating and increased their target price for the company from $69.50 to $72.50 in a report on Wednesday, July 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $74.26.
Shares of Consolidated Edison (NYSE:ED) opened at 75.31 on Wednesday. The company has a market cap of $22.93 billion and a P/E ratio of 19.52. The firm has a 50-day moving average of $76.96 and a 200-day moving average of $75.92. Consolidated Edison has a 12-month low of $60.30 and a 12-month high of $81.88.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same quarter in the prior year, the business earned $0.78 earnings per share. Analysts predict that Consolidated Edison will post $3.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 3.56%. Consolidated Edison’s payout ratio is 69.25%.
Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its position in Consolidated Edison by 5.0% in the second quarter. Macquarie Group Ltd. now owns 84,600 shares of the company’s stock valued at $6,805,000 after buying an additional 4,000 shares during the last quarter. Williams Jones & Associates LLC increased its position in Consolidated Edison by 55.1% in the second quarter. Williams Jones & Associates LLC now owns 2,947 shares of the company’s stock valued at $237,000 after buying an additional 1,047 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Consolidated Edison during the second quarter valued at $988,000. Kentucky Retirement Systems acquired a new position in Consolidated Edison during the second quarter valued at $2,081,000. Finally, Nomura Holdings Inc. increased its position in Consolidated Edison by 4.8% in the second quarter. Nomura Holdings Inc. now owns 43,701 shares of the company’s stock valued at $3,501,000 after buying an additional 2,001 shares during the last quarter. Hedge funds and other institutional investors own 54.89% of the company’s stock.
Consolidated Edison Company Profile
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
To view Vetr’s full report, visit Vetr’s official website.
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