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

Key Points

• Consolidated Edison shares reached a new 52-week high of $116.71, trading above both its 50-day and 200-day moving averages.
• Despite the stock’s strength, analyst sentiment remained cautious: MarketBeat reported a consensus “Reduce” rating and an average price target of $108.09, below the trading price.
• The company exceeded quarterly earnings and revenue expectations, while declaring a quarterly dividend of $0.8875 per share, representing a 3.1% yield; institutional investors own 66.29% of outstanding shares.

Consolidated Edison Inc (NYSE:ED - Get Free Report)'s stock price reached a new 52-week high on Thursday. The company traded as high as $116.71 and last traded at $115.1320, with a volume of 84,477 shares changing hands. The stock had previously closed at $114.15.

Analyst Upgrades and Downgrades

ED has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Consolidated Edison in a report on Monday, October 19th. Scotiabank lowered their price target on shares of Consolidated Edison from $117.00 to $110.00 and set a "sector perform" rating on the stock in a research note on Wednesday, September 30th. Bank of America cut their price target on shares of Consolidated Edison from $105.00 to $96.00 in a report on Friday, October 2nd. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and an average price target of $108.09.

Consolidated Edison Stock Performance

The company has a market capitalization of $42.86 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 4.01 and a beta of 0.26. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $107.41 and a 200-day simple moving average of $108.76.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, analysts anticipate that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Consolidated Edison during the 2nd quarter worth approximately $4,609,491,000. Lazard Asset Management LLC increased its holdings in Consolidated Edison by 14.8% during the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock valued at $800,843,000 after purchasing an additional 910,244 shares during the period. Deutsche Bank AG bought a new position in Consolidated Edison in the second quarter worth about $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Consolidated Edison by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,847,672 shares of the utilities provider's stock worth $536,298,000 after purchasing an additional 353,000 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Consolidated Edison in the 2nd quarter worth approximately $494,352,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

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.

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