Consolidated Edison (NYSE:ED) had its price target boosted by Morgan Stanley from $87.00 to $91.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an underweight rating on the utilities provider’s stock.

ED has been the subject of a number of other research reports. ValuEngine upgraded shares of Consolidated Edison from a hold rating to a buy rating in a research note on Friday, March 1st. Bank of America upgraded shares of Consolidated Edison from a neutral rating to a buy rating and decreased their price target for the company from $96.00 to $94.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Consolidated Edison from a buy rating to a hold rating in a research note on Monday, February 25th. Mizuho began coverage on shares of Consolidated Edison in a research note on Monday, March 11th. They set a neutral rating and a $85.00 price target for the company. Finally, KeyCorp began coverage on shares of Consolidated Edison in a research note on Tuesday, June 4th. They set a sector weight rating for the company. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $79.26.

Consolidated Edison stock opened at $88.54 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 0.60. Consolidated Edison has a 12-month low of $72.63 and a 12-month high of $90.51. The firm has a market cap of $28.96 billion, a P/E ratio of 20.50, a P/E/G ratio of 10.12 and a beta of 0.13.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Consolidated Edison had a net margin of 11.03% and a return on equity of 8.31%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company earned $1.38 EPS. On average, equities research analysts expect that Consolidated Edison will post 4.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.96 dividend on an annualized basis and a yield of 3.34%. Consolidated Edison’s dividend payout ratio (DPR) is presently 68.52%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Consolidated Edison by 3.8% in the 1st quarter. FMR LLC now owns 181,081 shares of the utilities provider’s stock worth $15,357,000 after acquiring an additional 6,640 shares in the last quarter. Horizon Investments LLC grew its stake in shares of Consolidated Edison by 10.0% in the 1st quarter. Horizon Investments LLC now owns 18,287 shares of the utilities provider’s stock worth $1,538,000 after acquiring an additional 1,668 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Consolidated Edison by 2.4% in the 1st quarter. MetLife Investment Advisors LLC now owns 91,256 shares of the utilities provider’s stock worth $7,739,000 after acquiring an additional 2,180 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its stake in shares of Consolidated Edison by 0.7% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 42,184 shares of the utilities provider’s stock worth $3,578,000 after acquiring an additional 293 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in shares of Consolidated Edison in the 1st quarter worth $1,611,000. Hedge funds and other institutional investors own 59.44% 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.

Further Reading: Cost of Equity

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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