Barclays Increases Consolidated Edison (NYSE:ED) Price Target to $104.00

Consolidated Edison (NYSE:ED) had its target price hoisted by equities research analysts at Barclays from $98.00 to $104.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential downside of 1.61% from the stock’s previous close.

A number of other brokerages also recently weighed in on ED. Wells Fargo & Company upped their target price on Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Scotiabank upped their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Guggenheim upped their target price on Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. UBS Group upped their target price on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Stock Down 0.5 %

ED stock opened at $105.70 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. Consolidated Edison has a 1-year low of $85.85 and a 1-year high of $107.10. The firm has a fifty day moving average price of $102.97 and a two-hundred day moving average price of $96.91. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.46 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Research analysts predict that Consolidated Edison will post 5.3 EPS for the current year.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors and hedge funds have recently made changes to their positions in ED. International Assets Investment Management LLC grew its holdings in Consolidated Edison by 10,262.1% in the 3rd quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock valued at $57,641,000 after buying an additional 548,204 shares in the last quarter. Coston McIsaac & Partners grew its holdings in Consolidated Edison by 2.4% in the 3rd quarter. Coston McIsaac & Partners now owns 61,231 shares of the utilities provider’s stock valued at $6,375,000 after buying an additional 1,415 shares in the last quarter. Lake Street Private Wealth LLC acquired a new position in Consolidated Edison in the 3rd quarter valued at $215,000. Greenleaf Trust grew its holdings in Consolidated Edison by 17.5% in the 3rd quarter. Greenleaf Trust now owns 8,147 shares of the utilities provider’s stock valued at $848,000 after buying an additional 1,215 shares in the last quarter. Finally, Aquila Investment Management LLC acquired a new position in Consolidated Edison in the 3rd quarter valued at $521,000. Institutional investors own 66.29% of the company’s stock.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.