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

Consolidated Edison (NYSE:ED) had its target price hoisted by Barclays from $98.00 to $104.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Other research analysts also recently issued reports about the stock. Citigroup raised shares of Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. UBS Group lifted their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Guggenheim upped their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. 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. Finally, Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.73.

Consolidated Edison Trading Up 1.6 %

Shares of Consolidated Edison stock opened at $107.40 on Monday. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97. The firm has a market cap of $37.14 billion, a PE ratio of 20.61, a PEG ratio of 3.46 and a beta of 0.36. The company has a 50 day simple moving average of $103.10 and a two-hundred day simple moving average of $96.98.

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

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is 63.72%.

Institutional Trading of Consolidated Edison

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Capital Management LLC grew its holdings in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Consolidated Edison during the 1st quarter valued at $33,000. TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth $33,000. Versant Capital Management Inc raised its position in Consolidated Edison by 380.2% in the 2nd quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after buying an additional 327 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison during the first quarter valued at approximately $48,000. 66.29% of the stock is currently owned by institutional investors.

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.