Consolidated Edison, Inc. (NYSE:ED) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Stockholders of record on Wednesday, November 13th will be paid a dividend of 0.74 per share by the utilities provider on Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, November 12th.
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Shares of ED stock opened at $87.92 on Friday. Consolidated Edison has a 12 month low of $73.29 and a 12 month high of $94.97. The firm has a market cap of $29.36 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 10.23 and a beta of 0.04. The stock has a 50 day moving average of $92.28 and a 200-day moving average of $88.68. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 1.01.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.50 billion. Consolidated Edison had a return on equity of 7.92% and a net margin of 10.98%. During the same quarter last year, the firm earned $1.57 earnings per share. As a group, equities analysts predict that Consolidated Edison will post 4.32 EPS for the current fiscal year.
A number of analysts have recently issued reports on ED shares. Credit Suisse Group lowered their price objective on Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lowered their price objective on Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating on the stock in a research report on Thursday, October 17th. KeyCorp boosted their price objective on Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. ValuEngine cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, UBS Group boosted their price objective on Consolidated Edison from $96.00 to $98.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $92.51.
Consolidated Edison Company Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.
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