Consolidated Edison Inc (NYSE:ED) Raises 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 paid a dividend of 0.8875 per share by the utilities provider on Monday, March 16th. This represents a c) annualized dividend and a yield of 3.3%. 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 raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 52 consecutive years. Consolidated Edison has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE:ED traded up $0.80 during trading hours on Wednesday, reaching $106.15. 339,416 shares of the stock were exchanged, compared to its average volume of 1,850,224. The stock has a market capitalization of $38.31 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.85 and a beta of 0.39. The firm has a 50 day simple moving average of $99.73 and a 200-day simple moving average of $100.01. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison has a 52 week low of $92.29 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results 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. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, sell-side analysts forecast that Consolidated Edison will post 5.62 earnings per share 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.