Investors received a research note from the research analysts at StockNews.com on Thursday, in which they discussed Consolidated Edison as the primary topic of discussion.
The investment advice given by the company was to “hold” one’s current position in the stock of the utility provider.
On Thursday, February 16, the most recent quarterly earnings report for Consolidated Edison (NYSE: ED) was released to the public.
Earnings per share (EPS) for the quarter reported by the utility industry came in at $0.81, a figure that was $0.03 higher than the average estimate of $0.78.
The utility industry comprises companies that provide services such as gas and electricity.
The revenue for the quarter came in at $4.03 billion, which was significantly higher than the $3.18 billion that analysts had anticipated the revenue would be for the quarter.
The 7.79% return on equity and 10.59% net margin that Consolidated Edison achieved demonstrate the company’s successful performance. Compared to the sum from the previous year, the sales made by the company saw an increase of 18.0%.
The previous year, during the same period, the company reported a profit per share of $1.00.
This year, the same profit per share was reported.
The financial analysts who follow the stock market forecast that Consolidated Edison will bring in a profit of $4.88 per share for the current fiscal year.
When trading started on Thursday, the price of a share of ED stock was $95.64 per share. Consolidated Edison hit a low of $78.10 during the past year, while the company reached a high of $102.21 during the same period.
The price-to-earnings ratio for the company is 20.48; the price-to-earnings growth ratio is 9.28, and the company has a beta value of 0.35.
The market capitalization of the company is $33.96 billion.
The debt-to-equity ratio stands at 0.96, the quick ratio at 1.10, and the current ratio at 1.14.
The moving averages of the company over the previous 50 days are $93.36; the moving averages over the previous 200 days are $93.01.
Recently, reports concerning ED have been distributed by several additional stock research analysts from various companies.
The target price for a share of Consolidated Edison was increased by the Royal Bank of Canada on Monday, February 27, from $94.00 to $95.00 in a report that was distributed on that day.
The bank also assigned the company a rating of “sector perform” for the business.
In a research report made public on Wednesday, December 14, Wells Fargo & Company announced that they were increasing their price target on shares of Consolidated Edison from $87.00 to $98.00.
In a research note published on Friday, February 17, Guggenheim decreased their price goal on Consolidated Edison shares from $97.00 to $86.00.
In a research note published on February 22, Citigroup raised the “neutral” rating they had previously given to Consolidated Edison.
In addition, they increased their price objective on the stock to $103.00, up from $92.00. JPMorgan Chase & Co lowered their price objective on shares of Consolidated Edison from $80.00 to $80.00 and rated the stock as “underweight” in a research note published on the second Thursday of February. Seven research analysts have assigned the company a rating of “hold,” while five research analysts have assigned the company a rating of “sell.” According to the information from Bloomberg, the stock has been given an average recommendation of “Hold,” Analysts have determined a price objective of $89.25 as a consensus.
Large investors have recently been active in the stock market, buying and selling equities.
During the second quarter of the fiscal year, Chilton Capital Management LLC invested in Consolidated Edison in the amount of $158,000.
During the second quarter, Greenleaf Trust increased its holdings in the company by purchasing an additional 3.9% of Consolidated Edison shares. Following the purchase of 207 additional shares during that period, Greenleaf Trust now holds 5,524 shares of the utility provider’s stock, valued at $525,000.
During the third quarter, Trust Financial Corp.
Increased its ownership percentage in Consolidated Edison by 80.9%.
Trust Financial Corp. now owns 103,022 shares of the utility provider’s stock after purchasing an additional 46,088 shares.
The current market value of these shares is $8,835,000.
During the second quarter, Cetera Investment Advisers increased the percentage of capital it had invested in Consolidated Edison by 5.0 percent.
As a result of the purchase of 972 additional shares during the most recent fiscal quarter, Cetera Investment Advisers now holds a total of 20,461 shares of the utilities provider’s stock, which has a market value of $1,946,000.
And finally, during the second quarter, Trexquant Investment LP increased the percentage of Consolidated Edison stock owned by 100.8%.
Trexquant Investment LP has recently acquired 24,250 shares of the utility’s stock, with a market value of $2,306,000.
This is a direct result of the most recent quarter-end purchase made by the company, which consisted of 12,172 additional shares. Currently, 64.95 percent of the company’s shares are held by institutional investors such as hedge funds and other types of institutional investors.
Consolidated Edison, INC, which is a holding corporation, is the company that provides the electric, gas, and steam supplies that are subject to regulation.
This corporation’s business operations are comprised of four divisions: Consolidated Edison Company of New York, Orange, and Rockland Utilities (O&R), Con Edison Clean Energy Businesses, and Con Edison Transmission.
All four of these divisions are owned and operated by the same corporation.