Consolidated Edison Inc (NYSE:ED) Announces Quarterly Dividend of $0.85

Key Points

• Consolidated Edison Inc announced a quarterly dividend of $0.85 per share, with an ex-dividend date of November 19th and a payment date set for December 15th.
• The company has a dividend payout ratio of 56.6%, indicating that the dividend is well-covered by earnings, with analysts projecting earnings of $5.96 per share next year.
• Consolidated Edison stock is currently down 1.2%, with a market capitalization of $36.44 billion and an average analyst rating of "Reduce" and a price target of $105.92.

Consolidated Edison Inc (NYSE:ED - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Investors of record on Wednesday, November 19th will be given a dividend of 0.85 per share by the utilities provider on Monday, December 15th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th.

Consolidated Edison has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Edison to earn $5.96 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 57.0%.

Consolidated Edison Stock Down 1.2%

ED stock opened at $101.05 on Friday. The company has a fifty day moving average price of $99.48 and a 200 day moving average price of $102.87. Consolidated Edison has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter in the prior year, the firm earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts expect that Consolidated Edison will post 5.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

ED has been the subject of a number of analyst reports. Evercore ISI initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an "in-line" rating and a $106.00 price objective for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Barclays upped their price objective on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 13th. KeyCorp upped their price target on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an "underweight" rating in a research note on Wednesday. Finally, New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday, October 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $105.92.

Consolidated Edison Company Profile

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.

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