Consolidated Edison (NYSE:ED) Hits New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ED shares. UBS Group increased 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. Morgan Stanley dropped their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, September 18th. Scotiabank decreased their price objective 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. Mizuho set a $108.00 price objective on Consolidated Edison in a research report on Wednesday, October 7th. Finally, The Goldman Sachs Group reduced their target price on Consolidated Edison from $106.00 to $102.00 in a research report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $108.09.

Consolidated Edison Stock Performance

The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The firm 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 stock’s 50 day moving average is $108.15 and its 200 day moving average is $109.10.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 annualized dividend and a yield of 2.9%. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Hedge Funds Weigh In On Consolidated Edison

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AlphaCore Capital LLC lifted its holdings in shares of Consolidated Edison by 29.6% in the 3rd quarter. AlphaCore Capital LLC now owns 10,024 shares of the utilities provider’s stock valued at $1,025,000 after purchasing an additional 2,287 shares during the last quarter. M Holdings Securities Inc. purchased a new position in Consolidated Edison during the 3rd quarter worth approximately $1,100,000. American State Bank Iowa grew its stake in Consolidated Edison by 4.8% during the 3rd quarter. American State Bank Iowa now owns 17,669 shares of the utilities provider’s stock worth $1,806,000 after buying an additional 804 shares during the last quarter. Ethic Inc. grew its stake in Consolidated Edison by 4.6% during the 3rd quarter. Ethic Inc. now owns 170,493 shares of the utilities provider’s stock worth $17,426,000 after buying an additional 7,554 shares during the last quarter. Finally, StoneX Group Inc. increased its position in Consolidated Edison by 224.3% during the third quarter. StoneX Group Inc. now owns 8,587 shares of the utilities provider’s stock worth $887,000 after buying an additional 5,939 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Company Profile

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.