Consolidated Edison (NYSE:ED) Issues Quarterly Earnings Results

Consolidated Edison (NYSE:ED) announced its earnings results on Thursday. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01, Zacks reports. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. Consolidated Edison updated its FY 2025 guidance to 5.500-5.700 EPS.

Consolidated Edison Stock Up 2.6 %

Shares of ED stock traded up $2.54 on Friday, hitting $98.30. The stock had a trading volume of 1,050,737 shares, compared to its average volume of 2,351,586. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $34.05 billion, a PE ratio of 18.51, a P/E/G ratio of 3.04 and a beta of 0.39. Consolidated Edison has a one year low of $85.85 and a one year high of $107.75. The business has a 50 day moving average price of $91.98 and a 200 day moving average price of $98.02.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, February 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. Consolidated Edison’s payout ratio is presently 64.03%.

Wall Street Analysts Forecast Growth

ED has been the subject of a number of analyst reports. Evercore ISI cut Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho increased their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Barclays reduced their price target on shares of Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $100.70.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.