Consolidated Edison (NYSE:ED) Sees Strong Trading Volume – What’s Next?

Consolidated Edison Inc (NYSE:ED) saw an uptick in trading volume on Tuesday . 2,496,456 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 2,017,500 shares.The stock last traded at $110.35 and had previously closed at $112.14.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ED. UBS Group boosted their price target on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. TD Cowen lifted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $102.00 target price on shares of Consolidated Edison in a research note on Friday, February 20th. Scotiabank raised their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $107.07.

Consolidated Edison Trading Down 0.1%

The stock has a market cap of $40.04 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 3.01 and a beta of 0.38. The firm’s 50 day simple moving average is $104.49 and its two-hundred day simple moving average is $101.03. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is currently 62.83%.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ED. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Consolidated Edison by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after buying an additional 8,562 shares in the last quarter. Bryce Point Capital LLC bought a new position in Consolidated Edison in the third quarter valued at approximately $556,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Consolidated Edison by 3.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock valued at $103,404,000 after acquiring an additional 29,606 shares during the last quarter. Nuance Investments LLC acquired a new position in Consolidated Edison during the third quarter valued at approximately $4,017,000. Finally, Atlantic Union Bankshares Corp lifted its stake in Consolidated Edison by 46.7% during the second quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock worth $373,000 after purchasing an additional 1,183 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.