Consolidated Edison (NYSE:ED) had its price objective increased by UBS Group from $83.00 to $84.00 in a report issued on Friday morning, www.benzinga.com reports. They currently have a neutral rating on the utilities provider’s stock.

ED has been the topic of several other reports. Wells Fargo & Co upped their target price on shares of Consolidated Edison from $81.00 to $83.00 and gave the company a market perform rating in a research report on Monday, September 17th. ValuEngine upgraded shares of Consolidated Edison from a sell rating to a hold rating in a research report on Tuesday, June 26th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $81.00 to $77.00 and set a sell rating on the stock in a research report on Friday. Barclays assumed coverage on shares of Consolidated Edison in a research report on Tuesday, July 10th. They set an equal weight rating and a $81.00 target price on the stock. Finally, Zacks Investment Research cut shares of Consolidated Edison from a buy rating to a hold rating in a research report on Wednesday, August 8th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $77.90.

Shares of ED stock opened at $77.89 on Friday. The firm has a market capitalization of $24.23 billion and a price-to-earnings ratio of 18.33. Consolidated Edison has a 52 week low of $71.12 and a 52 week high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.57 and a current ratio of 0.63.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Consolidated Edison had a net margin of 12.90% and a return on equity of 8.52%. During the same quarter in the previous year, the company earned $0.58 EPS. equities analysts expect that Consolidated Edison will post 4.27 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were issued a dividend of $0.715 per share. The ex-dividend date was Tuesday, August 14th. This represents a $2.86 annualized dividend and a yield of 3.67%. Consolidated Edison’s payout ratio is 69.93%.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Consolidated Edison by 7.0% during the 2nd quarter. BlackRock Inc. now owns 27,689,373 shares of the utilities provider’s stock valued at $2,159,218,000 after purchasing an additional 1,815,861 shares during the last quarter. Legal & General Group Plc grew its holdings in Consolidated Edison by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 3,247,049 shares of the utilities provider’s stock valued at $253,203,000 after purchasing an additional 152,883 shares during the last quarter. Swiss National Bank grew its stake in Consolidated Edison by 4.1% in the 2nd quarter. Swiss National Bank now owns 2,279,371 shares of the utilities provider’s stock worth $177,745,000 after acquiring an additional 90,600 shares in the last quarter. Tobam grew its stake in Consolidated Edison by 3.9% in the 2nd quarter. Tobam now owns 1,358,723 shares of the utilities provider’s stock worth $105,953,000 after acquiring an additional 50,388 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Consolidated Edison by 5.5% in the 1st quarter. Royal Bank of Canada now owns 1,278,754 shares of the utilities provider’s stock worth $99,668,000 after acquiring an additional 66,172 shares in the last quarter. Institutional investors own 58.57% 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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