Consolidated Edison Inc (NYSE:ED) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Consolidated Edison Inc (NYSE:ED) from a sell rating to a hold rating in a research report sent to investors on Monday, July 24th.

Several other analysts also recently commented on ED. UBS AG raised their price objective on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock a sell rating in a research report on Monday, May 8th. Jefferies Group LLC downgraded shares of Consolidated Edison from a buy rating to a hold rating and reduced their price objective for the stock from $88.00 to $83.50 in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Consolidated Edison from a buy rating to a hold rating in a research report on Wednesday, May 31st. BMO Capital Markets reaffirmed a hold rating and set a $80.00 price objective on shares of Consolidated Edison in a research report on Friday, May 5th. Finally, Deutsche Bank AG raised their price objective on shares of Consolidated Edison from $72.00 to $74.00 and gave the stock a hold rating in a research report on Tuesday, April 11th. Five equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Consolidated Edison presently has a consensus rating of Hold and an average price target of $76.96.

Consolidated Edison (ED) opened at 83.53 on Monday. The company has a market capitalization of $25.53 billion, a P/E ratio of 20.21 and a beta of 0.08. The firm has a 50 day moving average of $82.08 and a 200-day moving average of $79.65. Consolidated Edison has a 52 week low of $68.76 and a 52 week high of $85.13.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same period last year, the business earned $0.60 EPS. On average, analysts forecast that Consolidated Edison will post $4.09 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.

A number of institutional investors have recently modified their holdings of ED. Welch & Forbes LLC boosted its position in shares of Consolidated Edison by 0.3% in the first quarter. Welch & Forbes LLC now owns 3,263 shares of the utilities provider’s stock valued at $254,000 after buying an additional 9 shares during the period. Fiera Capital Corp boosted its position in shares of Consolidated Edison by 0.3% in the second quarter. Fiera Capital Corp now owns 4,895 shares of the utilities provider’s stock valued at $395,000 after buying an additional 13 shares during the period. Court Place Advisors LLC boosted its position in shares of Consolidated Edison by 0.4% in the first quarter. Court Place Advisors LLC now owns 4,014 shares of the utilities provider’s stock valued at $312,000 after buying an additional 14 shares during the period. Sabal Trust CO boosted its position in shares of Consolidated Edison by 0.6% in the second quarter. Sabal Trust CO now owns 2,715 shares of the utilities provider’s stock valued at $219,000 after buying an additional 15 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in shares of Consolidated Edison by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 3,186 shares of the utilities provider’s stock valued at $257,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 54.90% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

Analyst Recommendations for Consolidated Edison (NYSE:ED)

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