Consolidated Edison, Inc. (ED) Monthly Report

Publication Date: September 22, 2024

Company Overview

Consolidated Edison, Inc. (ED) is a premier utility company headquartered in New York, NY, providing regulated electric, gas, and steam services to approximately 3.7 million customers across New York City and Westchester County. Established in 1823, the company plays a vital role in the energy landscape with extensive transmission and distribution networks that support industrial, commercial, residential, and government sectors. As a publicly traded entity within the Multi-Utilities sub-industry, Consolidated Edison represents a stable investment opportunity. Currently, analysts recommend a “hold” rating on the shares, suggesting that while the stock is not a strong buy, there are no immediate sell signals. The target high price is projected at $109.00, presenting potential upside for investors under favorable market conditions.

Financial Performance

Consolidated Edison has reported total revenue approximating $14.81 billion, underscoring its stability within the regulated electric utilities market, where demand for electricity ensures steady income. The company’s total of 346,147,008 shares outstanding includes 6,442,790 shares shorted, which emphasizes a cautious yet optimistic investor sentiment, with only about 2.4% of the float subjected to short selling. The current share price stands at $103.35, relatively close to its fifty-two week high of $105.99, reflecting healthy market interest. Analysts provide a range of future price expectations, with a target low of $82.00 and a target mean of $98.00, showcasing a conservative view on its short-term performance while also expressing confidence in its long-term outlook.

Market Sentiment and Recommendations

The current analysis depicts a balanced sentiment among investors and analysts alike regarding Consolidated Edison. With 13 analysts providing insights, the overall recommendation is categorized as a “hold,” aligned with a mean rating of 3.1. The stock’s performance has demonstrated significant volatility, having a fifty-two week range from $80.46 to $105.99. While the stock has shown resilience above its fifty-day average of $99.89, ongoing monitoring is essential as market dynamics evolve. Given the current price of $103.35 and the projected target high of $109.00, Consolidated Edison illustrates both stability and growth potential, making it a noteworthy consideration for investors focused on the utility sector.

Metric	Value
Market Cap	$35.8b
Total Debt	$26.6b
Total Cash	$1.5b
Shares Outstanding	346.1m
Float Shares	345.6m