Consolidated Edison (NYSE:ED) Announces Earnings Results, Beats Expectations By $0.14 EPS

Consolidated Edison (NYSE:ED) issued its earnings results on Thursday. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14, Zacks reports. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the company posted $1.68 earnings per share. Consolidated Edison updated its FY 2025 guidance to 5.600-5.700 EPS.

Consolidated Edison Price Performance

NYSE ED traded up $1.44 during trading hours on Friday, hitting $98.43. 2,922,440 shares of the company’s stock traded hands, compared to its average volume of 2,567,412. The company has a market capitalization of $35.50 billion, a PE ratio of 17.86, a PEG ratio of 2.70 and a beta of 0.32. The firm’s 50-day moving average is $98.74 and its 200-day moving average is $101.67. Consolidated Edison has a 52-week low of $87.28 and a 52-week high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. Consolidated Edison’s payout ratio is presently 59.44%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC lifted its position in shares of Consolidated Edison by 6.2% during the second quarter. Advisory Services Network LLC now owns 7,762 shares of the utilities provider’s stock worth $803,000 after purchasing an additional 454 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Consolidated Edison by 87.9% during the second quarter. Geneos Wealth Management Inc. now owns 11,260 shares of the utilities provider’s stock worth $1,130,000 after purchasing an additional 5,267 shares during the last quarter. Evergreen Capital Management LLC increased its position in Consolidated Edison by 13.5% during the second quarter. Evergreen Capital Management LLC now owns 3,058 shares of the utilities provider’s stock worth $307,000 after buying an additional 364 shares during the period. Headlands Technologies LLC boosted its stake in Consolidated Edison by 156.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,973 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 1,205 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in Consolidated Edison in the 2nd quarter valued at about $107,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ED shares. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Evercore ISI began coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Barclays lowered their price target on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. Finally, KeyCorp boosted their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $105.08.

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.