ValuEngine upgraded shares of Consolidated Edison (NYSE:ED) from a hold rating to a buy rating in a report released on Wednesday morning.

Several other equities analysts have also commented on the company. Zacks Investment Research raised Consolidated Edison from a hold rating to a buy rating and set a $90.00 target price on the stock in a report on Wednesday, September 12th. Bank of America increased their target price on Consolidated Edison from $84.50 to $85.00 and gave the company a buy rating in a report on Wednesday, September 26th. Morgan Stanley dropped their target price on Consolidated Edison from $81.00 to $77.00 and set a sell rating on the stock in a report on Friday, September 21st. Goldman Sachs Group upgraded shares of Consolidated Edison from a sell rating to a neutral rating and upped their price objective for the company from $72.00 to $73.00 in a research note on Monday, November 5th. Finally, UBS Group upped their price objective on shares of Consolidated Edison from $83.00 to $84.00 and gave the company a neutral rating in a research note on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $77.36.

Consolidated Edison stock opened at $81.99 on Wednesday. Consolidated Edison has a twelve month low of $71.12 and a twelve month high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 0.62. The firm has a market cap of $25.54 billion, a PE ratio of 20.05, a P/E/G ratio of 4.78 and a beta of 0.04.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.57 EPS for the quarter, beating the consensus estimate of $1.46 by $0.11. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. During the same quarter in the prior year, the company posted $1.47 earnings per share. Analysts predict that Consolidated Edison will post 4.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, November 14th will be paid a $0.715 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $2.86 annualized dividend and a yield of 3.49%. Consolidated Edison’s dividend payout ratio is presently 69.93%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carnegie Capital Asset Management LLC boosted its stake in shares of Consolidated Edison by 83.0% during the third quarter. Carnegie Capital Asset Management LLC now owns 6,598 shares of the utilities provider’s stock worth $505,000 after buying an additional 2,993 shares during the period. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 1.5% during the third 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. Legal & General Group Plc boosted its stake in shares of Consolidated Edison by 9.1% during the third quarter. Legal & General Group Plc now owns 3,543,862 shares of the utilities provider’s stock worth $269,955,000 after buying an additional 296,813 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Consolidated Edison during the third quarter worth about $1,337,000. Finally, Captrust Financial Advisors boosted its stake in shares of Consolidated Edison by 3,164.5% during the third quarter. Captrust Financial Advisors now owns 5,419 shares of the utilities provider’s stock worth $413,000 after buying an additional 5,253 shares during the period. Institutional investors own 58.03% 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 3.4 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 1,600 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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