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

Consolidated Edison Inc (NYSE:ED)’s share price reached a new 52-week high on Thursday. The company traded as high as $116.36 and last traded at $116.2920, with a volume of 2,329,091 shares. The stock had previously closed at $111.82.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ED shares. HSBC started coverage on Consolidated Edison in a report on Thursday. They issued a “hold” rating and a $104.00 price target on the stock. Barclays reduced their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a research report on Friday, August 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Tuesday, October 6th. Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Consolidated Edison in a report on Monday. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $107.50.

Consolidated Edison Stock Performance

The business has a 50 day simple moving average of $106.89 and a 200 day simple moving average of $108.39. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $43.01 billion, a PE ratio of 19.10, a PEG ratio of 3.88 and a beta of 0.26.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results 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. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.10 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed 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. This represents a $3.55 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is presently 58.29%.

Institutional Trading of Consolidated Edison

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Consolidated Edison during the 2nd quarter worth approximately $4,609,491,000. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 14.8% in the first quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock worth $800,843,000 after buying an additional 910,244 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Consolidated Edison in the second quarter worth $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% during the second 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 worth $536,298,000 after buying an additional 353,000 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Consolidated Edison during the second quarter worth $494,352,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

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.