Consolidated Edison (NYSE:ED) Price Target Raised to $95.00 at Mizuho

Consolidated Edison (NYSE:ED) had its price objective hoisted by equities researchers at Mizuho from $92.00 to $95.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price objective suggests a potential downside of 0.36% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group began coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 target price for the company. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays reduced their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, January 27th. Morgan Stanley dropped their price objective on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.00.

Consolidated Edison Stock Up 1.7 %

ED stock traded up $1.61 on Monday, reaching $95.35. 1,497,438 shares of the company traded hands, compared to its average volume of 2,430,049. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a fifty day simple moving average of $92.49 and a 200-day simple moving average of $98.14. Consolidated Edison has a one year low of $85.85 and a one year high of $107.75. The company has a market cap of $33.03 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Research analysts anticipate that Consolidated Edison will post 5.35 earnings per share for the current year.

Institutional Trading of Consolidated Edison

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its stake in shares of Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after acquiring an additional 935,962 shares during the period. FMR LLC lifted its holdings in Consolidated Edison by 82.3% during the third quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. National Bank of Canada FI increased its stake in shares of Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares in the last quarter. Finally, State Street Corp raised its position in shares of Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after purchasing an additional 399,034 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

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.