UBS Group Boosts Consolidated Edison (NYSE:ED) Price Target to $113.00

Consolidated Edison (NYSE:ED) had its target price upped by equities research analysts at UBS Group from $110.00 to $113.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price suggests a potential upside of 4.78% from the company’s previous close.

A number of other brokerages have also recently weighed in on ED. Mizuho increased their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday. Barclays upped their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Monday, February 24th. Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.40.

Consolidated Edison Stock Down 0.6 %

Shares of NYSE:ED opened at $107.85 on Friday. The stock has a market cap of $37.40 billion, a P/E ratio of 20.58, a P/E/G ratio of 3.05 and a beta of 0.30. The firm has a fifty day moving average price of $97.91 and a 200 day moving average price of $98.40. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison has a 1-year low of $87.16 and a 1-year high of $109.36.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. Sell-side analysts predict that Consolidated Edison will post 5.62 EPS for the current year.

Hedge Funds Weigh In On Consolidated Edison

A number of large investors have recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison in the 4th quarter valued at about $35,000. Finally, Centricity Wealth Management LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

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.