Consolidated Edison, Inc. Declares Quarterly Dividend of $0.74 (NYSE:ED)

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Consolidated Edison, Inc. (NYSE:ED) announced a quarterly dividend on Thursday, October 17th, Zacks reports. Investors 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.

Shares of NYSE ED opened at $87.92 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.58 and a quick ratio of 0.56. The stock has a market capitalization of $29.36 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 10.23 and a beta of 0.04. Consolidated Edison has a 1-year low of $73.29 and a 1-year high of $94.97. The business has a fifty day moving average price of $92.28 and a 200 day moving average price of $88.68.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 company earned $1.57 earnings per share. As a group, equities research analysts anticipate that Consolidated Edison will post 4.32 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on ED shares. KeyCorp upped their price objective on Consolidated Edison from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America upped their price objective on Consolidated Edison from $99.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Co decreased their price objective on Consolidated Edison from $95.00 to $94.00 and set a “market perform” rating for the company in a research note on Tuesday, November 5th. UBS Group upped their price objective on Consolidated Edison from $96.00 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating for the company in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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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Dividend History for Consolidated Edison (NYSE:ED)

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