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

Consolidated Edison (NYSE:ED) had its price target increased by analysts at Scotiabank from $100.00 to $101.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential upside of 2.60% from the stock’s current price.

A number of other brokerages have also recently issued reports on ED. Evercore ISI cut shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Morgan Stanley reduced their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Mizuho boosted their price target on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.10.

Consolidated Edison Trading Up 0.2 %

Shares of NYSE:ED opened at $98.44 on Monday. The business’s 50 day simple moving average is $92.09 and its 200 day simple moving average is $97.96. Consolidated Edison has a 1 year low of $85.85 and a 1 year high of $107.75. 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 company has a market capitalization of $34.10 billion, a P/E ratio of 18.79, a P/E/G ratio of 3.05 and a beta of 0.39.

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

Institutional Investors Weigh In On Consolidated Edison

Institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Consolidated Edison in the third quarter worth $27,000. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $35,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Consolidated Edison in the fourth quarter valued at about $36,000. 66.29% of the stock is owned by institutional investors.

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.