Consolidated Edison (NYSE:ED) Reaches New 1-Year High – Here’s Why

Consolidated Edison Inc (NYSE:ED) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $116.36 and last traded at $116.2920, with a volume of 2,329,091 shares trading hands. The stock had previously closed at $111.82.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. Barclays decreased their price objective on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Morgan Stanley lowered their target price on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, September 18th. Mizuho set a $108.00 price objective on shares of Consolidated Edison in a research note on Wednesday, October 7th. HSBC began coverage on Consolidated Edison in a report on Thursday. They set a “hold” rating and a $104.00 target price on the stock. Finally, Evercore reaffirmed a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $107.50.

Consolidated Edison Trading Down 0.4%

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The company’s 50 day simple moving average is $107.03 and its two-hundred day simple moving average is $108.44. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 4.02 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the previous year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is 58.29%.

Institutional Trading of Consolidated Edison

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ED. Aberdeen Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $27,000. Sachetta LLC raised its position in shares of Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares during the last quarter. Activest Wealth Management raised its holdings in Consolidated Edison by 77.3% in the third quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock worth $26,000 after buying an additional 109 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $30,000. Finally, GoalVest Advisory LLC increased its position in shares of Consolidated Edison by 80.0% during the third quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Company Profile

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.