Consolidated Edison, Inc. (NYSE:ED) – Stock analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for shares of Consolidated Edison in a report issued on Wednesday, April 18th. KeyCorp analyst P. Ridzon forecasts that the utilities provider will post earnings per share of $1.30 for the quarter. KeyCorp also issued estimates for Consolidated Edison’s FY2019 earnings at $4.45 EPS.
Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Consolidated Edison’s revenue was up 9.4% compared to the same quarter last year.
ED has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Morgan Stanley boosted their target price on shares of Consolidated Edison from $74.00 to $77.00 and gave the stock an “underweight” rating in a research report on Monday, April 16th. JPMorgan Chase initiated coverage on shares of Consolidated Edison in a research report on Friday, January 12th. They set an “underweight” rating and a $78.00 target price on the stock. Finally, UBS initiated coverage on shares of Consolidated Edison in a report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $81.59.
Shares of ED stock opened at $77.60 on Friday. Consolidated Edison has a 1 year low of $73.73 and a 1 year high of $89.70. The firm has a market cap of $24,245.12, a P/E ratio of 18.97, a P/E/G ratio of 4.58 and a beta of 0.05. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.65 and a current ratio of 0.72.
A number of institutional investors have recently made changes to their positions in ED. Dimensional Fund Advisors LP increased its holdings in Consolidated Edison by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 613,255 shares of the utilities provider’s stock valued at $49,478,000 after buying an additional 3,253 shares during the period. Atlantic Trust Group LLC increased its holdings in Consolidated Edison by 18.1% in the 3rd quarter. Atlantic Trust Group LLC now owns 34,059 shares of the utilities provider’s stock valued at $2,747,000 after buying an additional 5,210 shares during the period. QUANTRES ASSET MANAGEMENT Ltd increased its holdings in Consolidated Edison by 60.7% in the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 14,300 shares of the utilities provider’s stock valued at $1,215,000 after buying an additional 5,400 shares during the period. DnB Asset Management AS increased its holdings in Consolidated Edison by 1.8% in the 4th quarter. DnB Asset Management AS now owns 40,409 shares of the utilities provider’s stock valued at $3,433,000 after buying an additional 700 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Consolidated Edison by 59.8% in the 4th quarter. North Star Investment Management Corp. now owns 3,678 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 1,376 shares in the last quarter. 56.59% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Wednesday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, May 15th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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