Shares of Consolidated Edison, Inc. (NYSE:ED) have received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $78.42.

ED has been the topic of several recent research reports. Bank of America reiterated a “buy” rating and set a $85.00 target price (down from $91.00) on shares of Consolidated Edison in a research report on Friday, May 8th. UBS Group cut their target price on shares of Consolidated Edison from $96.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Zacks Investment Research downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research report on Tuesday, June 23rd. Citigroup cut their target price on shares of Consolidated Edison from $89.00 to $78.50 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, Cfra cut their target price on shares of Consolidated Edison from $92.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, May 22nd.

In other Consolidated Edison news, CFO Robert N. Hoglund purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average price of $71.65 per share, for a total transaction of $143,300.00. Following the purchase, the chief financial officer now owns 41,893 shares of the company’s stock, valued at approximately $3,001,633.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 2,121 shares of company stock valued at $152,988 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ED. Wealth Quarterback LLC purchased a new position in shares of Consolidated Edison during the 4th quarter valued at about $20,911,510,000. BlackRock Inc. increased its position in shares of Consolidated Edison by 2.0% during the 1st quarter. BlackRock Inc. now owns 33,418,851 shares of the utilities provider’s stock valued at $2,606,672,000 after purchasing an additional 658,909 shares during the last quarter. State Street Corp boosted its holdings in Consolidated Edison by 2.1% during the 1st quarter. State Street Corp now owns 23,001,557 shares of the utilities provider’s stock valued at $1,794,121,000 after acquiring an additional 473,166 shares during the period. Geode Capital Management LLC boosted its holdings in Consolidated Edison by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 5,627,105 shares of the utilities provider’s stock valued at $438,125,000 after acquiring an additional 107,869 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Consolidated Edison by 3.3% during the 1st quarter. Legal & General Group Plc now owns 4,620,593 shares of the utilities provider’s stock valued at $360,561,000 after acquiring an additional 148,739 shares during the period. 59.88% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison stock traded up $0.71 during trading hours on Friday, reaching $73.81. 1,110,952 shares of the stock were exchanged, compared to its average volume of 2,185,567. The company has a market cap of $24.66 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 8.52 and a beta of 0.19. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.10. Consolidated Edison has a twelve month low of $62.03 and a twelve month high of $95.10. The stock has a 50 day moving average of $73.01 and a two-hundred day moving average of $82.98.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.08). Consolidated Edison had a net margin of 10.53% and a return on equity of 7.92%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. On average, analysts expect that Consolidated Edison will post 4.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.765 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $3.06 dividend on an annualized basis and a yield of 4.15%. Consolidated Edison’s dividend payout ratio (DPR) is presently 70.02%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

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