Consolidated Edison (NYSE:ED) Reaches New 52-Week High After Analyst Upgrade

Shares of Consolidated Edison Inc (NYSE:ED) hit a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $107.00 to $113.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Consolidated Edison traded as high as $115.36 and last traded at $115.2510, with a volume of 588824 shares trading hands. The stock had previously closed at $113.13.

Several other equities analysts also recently weighed in on ED. Wells Fargo & Company lowered their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Bank of America reissued an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a report on Wednesday, February 25th. UBS Group lifted their price target on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Finally, TD Cowen upped their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $108.80.

Institutional Trading of Consolidated Edison

Institutional investors have recently made changes to their positions in the business. JPL Wealth Management LLC bought a new stake in Consolidated Edison during the 3rd quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in Consolidated Edison in the 4th quarter worth approximately $26,000. Aventura Private Wealth LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at approximately $27,000. Westfuller Advisors LLC purchased a new stake in Consolidated Edison during the 4th quarter valued at approximately $27,000. Finally, Dorato Capital Management bought a new stake in shares of Consolidated Edison during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average price is $107.28 and its 200 day moving average price is $101.79. The stock has a market cap of $41.65 billion, a PE ratio of 20.41, a P/E/G ratio of 3.00 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the firm posted $0.98 EPS. Consolidated Edison’s revenue for the quarter was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is currently 62.83%.

Consolidated Edison Company Profile

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.