Media headlines about Consolidated Edison (NYSE:ED) have trended positive this week, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Consolidated Edison earned a media sentiment score of 0.29 on Accern’s scale. Accern also assigned media stories about the utilities provider an impact score of 46.6448080626433 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:
- 3 Big Stock Charts for Friday: Dominion Energy Inc (D), Dollar Tree, Inc. (DLTR) and Consolidated Edison, Inc. (ED) – Investorplace.com (investorplace.com)
- Insider Bets Paying Off At ED As New 52-Week High Reached (nasdaq.com)
- Stocks With Rising Relative Strength: Consolidated Edison (finance.yahoo.com)
- Consolidated Edison Inc (ED) Price Target Raised to $80.00 at Morgan Stanley (americanbankingnews.com)
- Focus on Momentum Mover: Consolidated Edison, Inc. (ED) – Wall Street Morning (wallstreetmorning.com)
Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.50 price objective on shares of Consolidated Edison in a research report on Thursday, August 31st. BidaskClub raised Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $77.12.
Shares of Consolidated Edison (ED) traded up 0.93% on Friday, reaching $85.53. The company’s stock had a trading volume of 1,505,452 shares. The stock has a market cap of $26.14 billion, a PE ratio of 20.69 and a beta of 0.09. The firm has a 50 day moving average price of $83.46 and a 200-day moving average price of $80.66. Consolidated Edison has a 12-month low of $68.76 and a 12-month high of $85.68.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities research analysts expect that Consolidated Edison will post $4.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.23%. Consolidated Edison’s payout ratio is presently 66.67%.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total transaction of $160,023.96. Following the sale, the chief executive officer now owns 24,017 shares in the company, valued at approximately $2,014,305.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 471 shares of company stock worth $39,202. Company insiders own 0.20% of the company’s stock.
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About Consolidated Edison
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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