Consolidated Edison (NYSE:ED) Sets New 1-Year High – What’s Next?

Consolidated Edison Inc (NYSE:ED) reached a new 52-week high during trading on Tuesday . The stock traded as high as $115.25 and last traded at $114.5270, with a volume of 67526 shares. The stock had previously closed at $113.72.

Analysts Set New Price Targets

ED has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. TD Cowen initiated coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They issued a “hold” rating and a $105.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. KeyCorp decreased their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Finally, Barclays cut their price target on Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $104.20.

Consolidated Edison Trading Up 0.5%

The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average price of $102.53 and a 200 day moving average price of $100.66. The stock has a market capitalization of $41.24 billion, a PE ratio of 19.98, a P/E/G ratio of 3.10 and a beta of 0.38.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.1%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Insider Buying and Selling at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Consolidated Edison

Institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in Consolidated Edison during the fourth quarter valued at about $26,000. Aventura Private Wealth LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $27,000. Westfuller Advisors LLC purchased a new position in shares of Consolidated Edison in the fourth quarter worth about $27,000. Finally, Dorato Capital Management bought a new stake in shares of Consolidated Edison in the fourth quarter valued at approximately $28,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.