Consolidated Edison (NYSE:ED) Releases Earnings Results, Beats Estimates By $0.14 EPS

Consolidated Edison (NYSE:ED) announced its quarterly earnings data on Thursday. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14, Zacks reports. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the business earned $1.68 earnings per share. Consolidated Edison updated its FY 2025 guidance to 5.600-5.700 EPS.

Consolidated Edison Stock Performance

NYSE:ED traded up $1.44 during trading hours on Friday, reaching $98.43. 2,922,440 shares of the stock were exchanged, compared to its average volume of 2,567,412. The stock has a market capitalization of $35.50 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 0.32. The firm has a 50 day simple moving average of $98.74 and a 200-day simple moving average of $101.67. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is 59.44%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. KeyCorp lifted their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Morgan Stanley lifted their price objective on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Finally, Barclays decreased their target price on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating for the company in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $105.08.

Institutional Trading of Consolidated Edison

Several hedge funds have recently bought and sold shares of ED. Modern Wealth Management LLC grew its stake in shares of Consolidated Edison by 6.8% in the 2nd quarter. Modern Wealth Management LLC now owns 3,189 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 203 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Consolidated Edison by 10.1% during the second quarter. Diversify Advisory Services LLC now owns 3,104 shares of the utilities provider’s stock worth $322,000 after buying an additional 286 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Consolidated Edison by 2.1% during the second quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 296 shares in the last quarter. Evergreen Capital Management LLC grew its position in Consolidated Edison by 13.5% in the second quarter. Evergreen Capital Management LLC now owns 3,058 shares of the utilities provider’s stock worth $307,000 after buying an additional 364 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its holdings in shares of Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.