Barclays Issues Positive Forecast for Consolidated Edison (NYSE:ED) Stock Price

Consolidated Edison (NYSE:ED) had its price target boosted by research analysts at Barclays from $92.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential downside of 3.32% from the company’s previous close.

ED has been the subject of a number of other reports. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Mizuho lifted their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley cut their target price 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, Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.00.

Consolidated Edison Stock Up 2.6 %

Shares of NYSE ED opened at $98.27 on Monday. The company has a market capitalization of $34.04 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. 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 business has a 50-day moving average of $92.09 and a two-hundred day moving average of $97.96. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, analysts forecast that Consolidated Edison will post 5.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ED. TD Private Client Wealth LLC grew its stake in Consolidated Edison by 4.7% in the third quarter. TD Private Client Wealth LLC now owns 2,334 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 104 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Consolidated Edison by 4.2% during the fourth quarter. Jacobi Capital Management LLC now owns 2,569 shares of the utilities provider’s stock valued at $229,000 after buying an additional 104 shares during the last quarter. Glen Eagle Advisors LLC raised its holdings in shares of Consolidated Edison by 6.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 1,902 shares of the utilities provider’s stock valued at $170,000 after buying an additional 111 shares during the last quarter. Richwood Investment Advisors LLC raised its holdings in shares of Consolidated Edison by 2.3% during the fourth quarter. Richwood Investment Advisors LLC now owns 5,194 shares of the utilities provider’s stock valued at $463,000 after buying an additional 115 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Consolidated Edison by 1.1% during the third quarter. D.A. Davidson & CO. now owns 11,142 shares of the utilities provider’s stock valued at $1,160,000 after buying an additional 124 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

About Consolidated Edison

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.