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

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ED shares. Scotiabank reduced their target price on shares of Consolidated Edison from $117.00 to $110.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. HSBC assumed coverage on shares of Consolidated Edison in a research report on Thursday, October 22nd. They set a “hold” rating and a $104.00 price target on the stock. Barclays cut their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Wells Fargo & Company upped their price objective on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, UBS Group upped their price objective on shares of Consolidated Edison from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $108.09.

Consolidated Edison Trading Up 1.1%

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 capitalization of $43.20 billion, a PE ratio of 19.18, a PEG ratio of 4.00 and a beta of 0.26. The stock’s 50 day simple moving average is $107.73 and its two-hundred day simple moving average is $108.93.

Consolidated Edison (NYSE:ED) last released its 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. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the firm earned $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 6.10 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PFS Partners LLC grew its position in shares of Consolidated Edison by 12.2% during the third quarter. PFS Partners LLC now owns 836 shares of the utilities provider’s stock worth $85,000 after buying an additional 91 shares in the last quarter. Cornerstone Financial Management LLC raised its holdings in Consolidated Edison by 43.2% in the second quarter. Cornerstone Financial Management LLC now owns 318 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 96 shares in the last quarter. Charles Schwab Trust Co raised its holdings in Consolidated Edison by 2.3% in the third quarter. Charles Schwab Trust Co now owns 4,400 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 100 shares in the last quarter. Compass Financial Management LLC boosted its stake in Consolidated Edison by 18.9% during the 3rd quarter. Compass Financial Management LLC now owns 636 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 101 shares during the last quarter. Finally, 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 acquiring an additional 102 shares during the last quarter. Hedge funds and other 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.