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

Consolidated Edison Inc (NYSE:ED) shares hit a new 52-week high during trading on Thursday. The stock traded as high as $116.71 and last traded at $115.1320, with a volume of 84,477 shares trading hands. The stock had previously closed at $114.15.

Analyst Ratings Changes

A number of analysts have recently issued reports on ED shares. LADENBURG THALM/SH SH raised their price target on shares of Consolidated Edison from $101.00 to $113.50 and gave the company a “neutral” rating in a report on Monday, July 13th. UBS Group raised their price target on Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Scotiabank reduced 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 research report on Wednesday, September 30th. The Goldman Sachs Group reduced their price objective on Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Finally, Wells Fargo & Company upped their price target on Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued 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 target price of $108.09.

Consolidated Edison Stock Performance

The firm’s 50-day moving average price is $107.41 and its 200-day moving average price is $108.76. 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 has a market cap of $42.86 billion, a P/E ratio of 19.01, a PEG ratio of 4.01 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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 firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. During the same quarter last year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.10 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

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

Institutional Trading of Consolidated Edison

A number of large investors have recently made changes to their positions in ED. BlackRock Inc. purchased a new position in Consolidated Edison in the second quarter worth about $4,609,491,000. Lazard Asset Management LLC raised its position in Consolidated Edison by 14.8% during the first 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 stake in shares of Consolidated Edison in the 2nd quarter valued at approximately $749,184,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Consolidated Edison by 7.9% in the 2nd 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 valued at $536,298,000 after purchasing an additional 353,000 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Consolidated Edison in the 2nd quarter worth approximately $494,352,000. 66.29% of the stock is currently owned by institutional investors.

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.