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
Shares of NYSE:ED opened at $97.19 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.10. The firm's 50-day moving average price is $94.11 and its two-hundred day moving average price is $92.09. Consolidated Edison has a 52-week low of $71.52 and a 52-week high of $101.12. The stock has a market capitalization of $34.43 billion, a P/E ratio of 21.27, a P/E/G ratio of 10.86 and a beta of 0.25.
Consolidated Edison (NYSE:ED - Get Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.09. Consolidated Edison had a net margin of 11.16% and a return on equity of 7.85%. During the same period in the previous year, the company earned $0.53 EPS. As a group, sell-side analysts forecast that Consolidated Edison will post 4.49 earnings per share for the current year.
Consolidated Edison Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $3.16 dividend on an annualized basis and a yield of 3.25%. Consolidated Edison's dividend payout ratio is currently 69.15%.
Wall Street Analyst Weigh In
ED has been the subject of several recent analyst reports. KeyCorp raised their target price on Consolidated Edison from $72.00 to $75.00 and gave the company an "underweight" rating in a research note on Tuesday, July 19th. Credit Suisse Group assumed coverage on Consolidated Edison in a research note on Monday, April 25th. They issued a "neutral" rating and a $100.00 price target for the company. StockNews.com downgraded Consolidated Edison from a "buy" rating to a "hold" rating in a research note on Tuesday, May 3rd. Mizuho decreased their price target on Consolidated Edison from $100.00 to $99.00 and set a "buy" rating for the company in a research note on Monday, June 27th. Finally, Morgan Stanley lifted their price target on Consolidated Edison from $76.00 to $77.00 and gave the stock an "underweight" rating in a research note on Thursday, July 21st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.91.