Consolidated Edison Inc (NYSE:ED) Increases Dividend to $0.89 Per Share

Consolidated Edison Inc (NYSE:ED) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Wednesday, February 18th will be given a dividend of 0.8875 per share by the utilities provider on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, February 18th. This is a 4.4% increase from Consolidated Edison’s previous quarterly dividend of $0.85.

Consolidated Edison has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 52 consecutive years. Consolidated Edison has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE ED traded up $0.47 during trading hours on Wednesday, reaching $105.82. The company’s stock had a trading volume of 404,468 shares, compared to its average volume of 1,854,570. Consolidated Edison has a 1 year low of $92.29 and a 1 year high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $38.19 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.85 and a beta of 0.39. The firm’s 50-day moving average price is $99.73 and its 200-day moving average price is $100.01.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter last year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts predict that Consolidated Edison will post 5.62 EPS for the current fiscal year.

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.