Consolidated Edison (NYSE:ED) Research Coverage Started at Jefferies Financial Group

Research analysts at Jefferies Financial Group began coverage on shares of Consolidated Edison (NYSE:ED) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “hold” rating and a $108.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 5.77% from the company’s previous close.

ED has been the subject of several other reports. Barclays upped their target price on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. UBS Group increased their price objective on shares of Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Morgan Stanley boosted their price target on Consolidated Edison from $82.00 to $87.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.96.

Consolidated Edison Trading Up 1.0 %

NYSE:ED opened at $102.11 on Wednesday. The business’s 50-day moving average is $102.21 and its two-hundred day moving average is $95.88. The firm has a market capitalization of $35.31 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. Consolidated Edison has a 12 month low of $85.15 and a 12 month high of $105.99. 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 (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. Research analysts predict that Consolidated Edison will post 5.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ED. Perpetual Ltd acquired a new position in Consolidated Edison in the 3rd quarter worth about $229,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $254,000. Future Financial Wealth Managment LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at approximately $55,000. Brookstone Capital Management increased its holdings in Consolidated Edison by 0.6% in the third quarter. Brookstone Capital Management now owns 24,173 shares of the utilities provider’s stock worth $2,517,000 after buying an additional 136 shares during the last quarter. Finally, Evanson Asset Management LLC acquired a new stake in shares of Consolidated Edison in the third quarter worth about $229,000. Institutional investors and hedge funds 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.