Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Consolidated Edison (NYSE:ED) in a research note issued on Friday. The firm set an “underweight” rating and a $78.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 2.97% from the company’s previous close.

A number of other equities analysts have also recently commented on ED. Evercore ISI cut shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price objective for the company. in a research report on Tuesday, September 26th. Guggenheim reaffirmed a “hold” rating and set a $88.00 price objective on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Consolidated Edison currently has an average rating of “Hold” and a consensus target price of $80.71.

Consolidated Edison (NYSE ED) traded down $0.53 during mid-day trading on Friday, reaching $80.39. 1,514,300 shares of the company’s stock were exchanged, compared to its average volume of 1,807,125. 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 has a 1 year low of $72.13 and a 1 year high of $89.70. The company has a market capitalization of $24,930.00, a PE ratio of 20.15, a price-to-earnings-growth ratio of 9.60 and a beta of 0.10.

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

Several institutional investors have recently made changes to their positions in ED. Janus Henderson Group PLC boosted its position in shares of Consolidated Edison by 6,358.2% in the second quarter. Janus Henderson Group PLC now owns 2,300,677 shares of the utilities provider’s stock valued at $185,940,000 after acquiring an additional 2,265,053 shares during the period. APG Asset Management N.V. boosted its position in shares of Consolidated Edison by 38.2% in the third quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after acquiring an additional 1,121,200 shares during the period. Vanguard Group Inc. raised its stake in Consolidated Edison by 2.4% in the second quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after purchasing an additional 516,860 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Consolidated Edison by 5,924.7% in the second quarter. Balyasny Asset Management LLC now owns 523,427 shares of the utilities provider’s stock valued at $42,303,000 after purchasing an additional 514,739 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Consolidated Edison by 1.8% in the second quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock valued at $1,983,672,000 after purchasing an additional 439,840 shares in the last quarter. 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).

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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