Consolidated Edison, Inc. (NYSE:ED) – Equities research analysts at KeyCorp issued their Q3 2021 earnings per share estimates for Consolidated Edison in a research note issued to investors on Tuesday, January 12th. KeyCorp analyst S. Karp forecasts that the utilities provider will earn $1.58 per share for the quarter.
Several other research firms have also issued reports on ED. Barclays raised their price target on shares of Consolidated Edison from $74.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 18th. BidaskClub downgraded Consolidated Edison from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 8th. Credit Suisse Group boosted their price target on Consolidated Edison from $78.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Morgan Stanley reduced their price objective on Consolidated Edison from $82.00 to $75.00 and set an “underweight” rating for the company in a research report on Tuesday, December 15th. Finally, Bank of America cut Consolidated Edison from a “buy” rating to a “neutral” rating and set a $82.00 price objective on the stock. in a research report on Thursday, October 15th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $79.61.
Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 5th. The utilities provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.03). The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Consolidated Edison had a net margin of 11.06% and a return on equity of 7.77%. During the same quarter last year, the firm earned $1.54 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the company. Jacobi Capital Management LLC grew its holdings in shares of Consolidated Edison by 20.0% in the 3rd quarter. Jacobi Capital Management LLC now owns 780 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 130 shares in the last quarter. Ropes Wealth Advisors LLC lifted its holdings in shares of Consolidated Edison by 63.9% during the third quarter. Ropes Wealth Advisors LLC now owns 336 shares of the utilities provider’s stock worth $26,000 after buying an additional 131 shares in the last quarter. HawsGoodwin Investment Management LLC boosted its holdings in Consolidated Edison by 1.1% in the 3rd quarter. HawsGoodwin Investment Management LLC now owns 12,476 shares of the utilities provider’s stock valued at $971,000 after purchasing an additional 131 shares during the period. Shulman DeMeo Asset Management LLC grew its position in Consolidated Edison by 1.9% during the third quarter. Shulman DeMeo Asset Management LLC now owns 7,021 shares of the utilities provider’s stock worth $546,000 after buying an additional 133 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its position in shares of Consolidated Edison by 33.5% in the third quarter. TRUE Private Wealth Advisors now owns 534 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 134 shares during the period. 56.36% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th were given a $0.765 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, November 17th. Consolidated Edison’s dividend payout ratio (DPR) is 70.02%.
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 1,589 customers in parts of Manhattan.
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