Consolidated Edison (NYSE:ED) Sets New 52-Week High – Time to Buy?

Consolidated Edison Inc (NYSE:ED) reached a new 52-week high during trading on Wednesday. The company traded as high as $119.67 and last traded at $120.3190, with a volume of 627,037 shares trading hands. The stock had previously closed at $116.81.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore cut their price objective on shares of Consolidated Edison from $116.00 to $112.00 in a research report on Thursday, October 8th. UBS Group lifted their target price on shares of Consolidated Edison from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Barclays dropped their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a research note on Friday, August 7th. Scotiabank cut their price target on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a report on Wednesday, September 30th. Finally, The Goldman Sachs Group cut their price target on shares of Consolidated Edison from $106.00 to $102.00 in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $108.09.

Consolidated Edison Stock Performance

The stock has a market cap of $44.68 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 4.10 and a beta of 0.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17. The stock’s 50-day moving average is $108.15 and its 200-day moving average is $109.10.

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

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio is 58.29%.

Institutional Investors Weigh In On Consolidated Edison

A number of institutional investors have recently modified their holdings of ED. Activest Wealth Management lifted its position in Consolidated Edison by 77.3% in the third quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 109 shares during the period. Sachetta LLC boosted its stake in Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 102 shares in the last quarter. Aberdeen Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $27,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $30,000. Finally, GoalVest Advisory LLC raised its stake in shares of Consolidated Edison by 80.0% in the 3rd quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

About Consolidated Edison

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.