Guggenheim restated their hold rating on shares of Consolidated Edison (NYSE:ED) in a research note published on Wednesday, January 3rd. They currently have a $88.00 price objective on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Consolidated Edison from a hold rating to a buy rating and set a $90.00 target price for the company in a report on Monday, October 2nd. ValuEngine upgraded Consolidated Edison from a hold rating to a buy rating in a report on Friday, November 10th. Bank of America initiated coverage on Consolidated Edison in a report on Tuesday, October 24th. They issued a buy rating and a $92.00 target price for the company. Finally, KeyCorp reiterated a hold rating on shares of Consolidated Edison in a report on Friday, October 20th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Consolidated Edison has a consensus rating of Hold and an average target price of $81.41.

Consolidated Edison (ED) traded up $0.57 during trading hours on Wednesday, reaching $79.70. The company’s stock had a trading volume of 406,441 shares, compared to its average volume of 2,086,878. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. Consolidated Edison has a 1-year low of $72.63 and a 1-year high of $89.70. The company has a market cap of $24,540.00, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 9.41 and a beta of 0.10.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 EPS for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. During the same quarter last year, the firm posted $1.51 EPS. equities research analysts expect that Consolidated Edison will post 4.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 14th will be issued a dividend of $0.715 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.86 dividend on an annualized basis and a yield of 3.59%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. Consolidated Edison’s payout ratio is presently 69.17%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. WFG Advisors LP lifted its holdings in shares of Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after buying an additional 214 shares during the period. AllSquare Wealth Management LLC purchased a new stake in shares of Consolidated Edison in the 3rd quarter worth $113,000. Asset Dedication LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $183,000. Round Table Services LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $200,000. Finally, Community Bank & Trust Waco Texas purchased a new stake in shares of Consolidated Edison in the 4th quarter worth $208,000. Institutional investors own 55.53% of the company’s stock.

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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), 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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