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 3.5 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 1,555 customers in parts of Manhattan. The company also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, it operates 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 87,564 in-service line transformers; 3,924 pole miles of overhead distribution lines; and 2,291 miles of underground distribution lines, as well as 4,350 miles of mains and 377,971 service lines for natural gas distribution. Further, the company owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. It primarily sells electricity to industrial, commercial, residential, and government customers. The company was founded in 1823 and is based in New York, New York.
Consolidated Edison Stock Performance
ED traded up $0.63 during midday trading on Friday, reaching $99.11. The company had a trading volume of 1,955,194 shares, compared to its average volume of 1,633,022. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.82 and a current ratio of 0.88. The stock has a market cap of $35.14 billion, a PE ratio of 21.69, a P/E/G ratio of 10.98 and a beta of 0.25. Consolidated Edison has a 12-month low of $71.52 and a 12-month high of $101.12. The business has a 50-day moving average price of $94.09 and a two-hundred day moving average price of $92.60.
Consolidated Edison (NYSE:ED - Get Rating) last released its earnings results on Thursday, August 4th. The utilities provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.09. Consolidated Edison had a net margin of 11.16% and a return on equity of 7.83%. During the same period in the previous year, the business earned $0.53 EPS. On average, sell-side analysts expect that Consolidated Edison will post 4.49 earnings per share for the current fiscal year.
Consolidated Edison Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, August 16th. Consolidated Edison's payout ratio is 69.15%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Mizuho decreased their price target on shares of Consolidated Edison from $100.00 to $99.00 and set a "buy" rating for the company in a research note on Monday, June 27th. KeyCorp boosted their target price on shares of Consolidated Edison from $72.00 to $75.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 19th. Credit Suisse Group boosted their target price on shares of Consolidated Edison from $92.00 to $94.00 and gave the stock a "neutral" rating in a research report on Monday, August 8th. Guggenheim raised shares of Consolidated Edison from a "sell" rating to a "neutral" rating and set a $94.00 target price for the company in a research report on Monday, May 23rd. Finally, Wells Fargo & Company downgraded shares of Consolidated Edison from an "equal weight" rating to a "sell" rating and boosted their target price for the stock from $85.00 to $94.00 in a research report on Tuesday, May 3rd. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.36.