Consolidated Edison (NYSE:ED) Given New $82.00 Value Goal at Morgan Stanley

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Consolidated Edison (NYSE:EDGet Score) had its value goal lowered by Morgan Stanley from $84.00 to $82.00 in a report launched on Thursday, Inventory Goal Advisor studies. The agency at the moment has an “underweight” ranking on the utilities supplier’s inventory. Morgan Stanley’s value goal would recommend a possible draw back of 14.72% from the inventory’s earlier shut.

Different equities analysts have additionally not too long ago issued studies in regards to the firm. KeyCorp raised their goal value on Consolidated Edison from $72.00 to $75.00 and gave the inventory an “underweight” ranking in a report on Tuesday, July nineteenth. Mizuho dropped their value goal on Consolidated Edison from $100.00 to $99.00 and set a “purchase” ranking for the corporate in a analysis report on Monday, June twenty seventh. Lastly, Credit score Suisse Group raised their value goal on shares of Consolidated Edison from $92.00 to $94.00 and gave the inventory a “impartial” ranking in a analysis notice on Monday, August eighth. 5 analysts have rated the inventory with a promote ranking, six have given a maintain ranking and one has assigned a purchase ranking to the corporate’s inventory. Based mostly on knowledge from MarketBeat.com, the inventory has a mean ranking of “Maintain” and a consensus goal value of $85.82.

Consolidated Edison Buying and selling Down 0.1 %

Shares of NYSE ED traded down $0.09 throughout noon buying and selling on Thursday, reaching $96.15. The corporate had a buying and selling quantity of 13,392 shares, in comparison with its common quantity of 1,278,199. Consolidated Edison has a one 12 months low of $71.52 and a one 12 months excessive of $102.21. The corporate has a fast ratio of 0.82, a present ratio of 0.88 and a debt-to-equity ratio of 1.08. The agency’s fifty day transferring common value is $97.75 and its 200-day transferring common value is $95.36. The inventory has a market cap of $34.09 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 10.86 and a beta of 0.25.

Consolidated Edison (NYSE:EDGet Score) final launched its quarterly earnings outcomes on Thursday, August 4th. The utilities supplier reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Consolidated Edison had a return on fairness of seven.83% and a web margin of 11.16%. Throughout the identical quarter final 12 months, the enterprise posted $0.53 earnings per share. On common, equities analysis analysts anticipate that Consolidated Edison will put up 4.48 earnings per share for the present 12 months.

Institutional Buying and selling of Consolidated Edison

A number of hedge funds and different institutional traders have not too long ago made adjustments to their positions within the firm. BlackRock Inc. boosted its stake in shares of Consolidated Edison by 20.1% within the fourth quarter. BlackRock Inc. now owns 45,413,132 shares of the utilities supplier’s inventory valued at $3,874,649,000 after buying an extra 7,590,978 shares in the course of the interval. Vanguard Group Inc. grew its place in Consolidated Edison by 18.0% within the 1st quarter. Vanguard Group Inc. now owns 41,690,313 shares of the utilities supplier’s inventory valued at $3,947,238,000 after shopping for an extra 6,349,773 shares within the final quarter. State Road Corp grew its place in Consolidated Edison by 4.4% within the 1st quarter. State Road Corp now owns 28,573,910 shares of the utilities supplier’s inventory valued at $2,705,378,000 after shopping for an extra 1,209,292 shares within the final quarter. Lazard Asset Administration LLC boosted its place in shares of Consolidated Edison by 8.7% in the course of the 2nd quarter. Lazard Asset Administration LLC now owns 6,885,619 shares of the utilities supplier’s inventory valued at $654,821,000 after buying an extra 550,853 shares within the final quarter. Lastly, Authorized & Common Group Plc lifted its stake in Consolidated Edison by 0.7% in the course of the second quarter. Authorized & Common Group Plc now owns 6,454,457 shares of the utilities supplier’s inventory valued at $613,822,000 after shopping for an extra 46,601 shares within the final quarter. Hedge funds and different institutional traders personal 64.76% of the corporate’s inventory.

Consolidated Edison Firm Profile

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Consolidated Edison, Inc, by way of its subsidiaries, engages within the regulated electrical, fuel, and steam supply companies in america. It gives electrical companies to roughly 3.5 million prospects in New York Metropolis and Westchester County; fuel to roughly 1.1 million prospects in Manhattan, the Bronx, elements of Queens, and Westchester County; and steam to roughly 1,555 prospects in elements of Manhattan.

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Analyst Recommendations for Consolidated Edison (NYSE:ED)

This instantaneous information alert was generated by narrative science know-how and monetary knowledge from MarketBeat with a purpose to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial group previous to publication. Please ship any questions or feedback about this story to [email protected]

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