Consolidated Edison (NYSE:ED) Given New $95.00 Price Target at Barclays

Consolidated Edison (NYSE:ED) had its price objective boosted by Barclays from $92.00 to $95.00 in a research note published on Monday,Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

Several other equities analysts have also recently issued reports on ED. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $90.00 to $100.00 in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Evercore ISI lowered shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.10.

Consolidated Edison Trading Up 1.4 %

Shares of NYSE ED opened at $99.66 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison has a 52-week low of $85.85 and a 52-week high of $107.75. The firm has a 50 day moving average price of $92.26 and a two-hundred day moving average price of $97.95. The stock has a market cap of $34.52 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39.

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

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, February 19th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.41%. Consolidated Edison’s dividend payout ratio is currently 64.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TD Private Client Wealth LLC lifted its stake in shares of Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock valued at $243,000 after buying an additional 104 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Consolidated Edison by 4.2% in the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after buying an additional 104 shares in the last quarter. Glen Eagle Advisors LLC lifted its stake in shares of Consolidated Edison by 6.2% in the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock valued at $170,000 after buying an additional 111 shares in the last quarter. Richwood Investment Advisors LLC lifted its stake in shares of Consolidated Edison by 2.3% in the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after buying an additional 115 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Consolidated Edison by 1.1% in the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

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.