Consolidated Edison Inc. (NYSE:ED) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $77.14 price target on the stock. Vetr‘s price objective would suggest a potential upside of 6.01% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Citigroup Inc. decreased their price target on Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays PLC decreased their target price on Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 21st. Mizuho lifted their target price on Consolidated Edison from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Zacks Investment Research upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, Jefferies Group upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, September 14th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $74.47.
Consolidated Edison (NYSE:ED) traded down 1.98% during midday trading on Tuesday, hitting $72.77. The company had a trading volume of 2,553,591 shares. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 18.86 and a beta of 0.01. The company’s 50 day moving average is $75.87 and its 200 day moving average is $76.33. Consolidated Edison has a 12-month low of $60.30 and a 12-month high of $81.88.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a return on equity of 8.88% and a net margin of 9.47%. During the same period last year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Consolidated Edison will post $3.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 15th. This represents a $2.68 annualized dividend and a yield of 3.68%. Consolidated Edison’s payout ratio is 69.25%.
Large investors have recently made changes to their positions in the company. Janus Capital Management LLC boosted its stake in shares of Consolidated Edison by 96.7% in the second quarter. Janus Capital Management LLC now owns 2,229,835 shares of the company’s stock valued at $179,368,000 after buying an additional 1,096,076 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Consolidated Edison by 13.7% in the second quarter. BlackRock Fund Advisors now owns 8,383,631 shares of the company’s stock valued at $674,379,000 after buying an additional 1,012,706 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 4.6% in the second quarter. Vanguard Group Inc. now owns 20,038,432 shares of the company’s stock valued at $1,611,891,000 after buying an additional 890,023 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $48,767,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $48,550,000. 54.76% of the stock is currently owned by hedge funds and other institutional investors.
About Consolidated Edison
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
To view Vetr’s full report, visit Vetr’s official website.
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