Consolidated Edison, Inc. (ED) Shares Soar Above 1-Year High

Consolidated Edison, Inc. (NYSE: ED) has experienced a rise in its stock price by 0.30 compared to its previous closing price of 90.33. However, the company has seen a gain of 2.37% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-21 that Amid the ongoing transition in the utility space and still-high interest rates, utilities like NEE, ED, ES and CNP are set to benefit from a strong customer base. They have plans to upgrade infrastructure, add clean assets and provide reliable services.

Is It Worth Investing in Consolidated Edison, Inc. (NYSE: ED) Right Now?

The price-to-earnings ratio for Consolidated Edison, Inc. (NYSE: ED) is above average at 12.62x, Company’s 36-month beta value is 0.35.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 7 as “hold,” and 5 as “sell.”

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The public float for ED is 344.92M, and currently, short sellers hold a 1.74% ratio of that floaft. The average trading volume of ED on April 03, 2024 was 1.78M shares.

ED’s Market Performance

The stock of Consolidated Edison, Inc. (ED) has seen a 2.37% increase in the past week, with a 4.13% rise in the past month, and a -0.41% fall in the past quarter. The volatility ratio for the week is 1.62%, and the volatility levels for the past 30 days are at 1.55% for ED.. The simple moving average for the past 20 days is 1.34% for ED’s stock, with a 0.52% simple moving average for the past 200 days.

Analysts’ Opinion of ED

Ladenburg Thalmann, on the other hand, stated in their research note that they expect to see ED reach a price target of $92.50. The rating they have provided for ED stocks is “Neutral” according to the report published on January 03rd, 2024.

Wells Fargo gave a rating of “Equal Weight” to ED, setting the target price at $94 in the report published on October 17th of the previous year.

ED Trading at 1.76% from the 50-Day Moving Average

After a stumble in the market that brought ED to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.23% of loss for the given period.

Volatility was left at 1.55%, however, over the last 30 days, the volatility rate increased by 1.62%, as shares surge +1.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.82% upper at present.

During the last 5 trading sessions, ED rose by +2.37%, which changed the moving average for the period of 200-days by -1.94% in comparison to the 20-day moving average, which settled at $89.48. In addition, Consolidated Edison, Inc. saw -0.41% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ED starting from Miller Joseph, who purchase 1 shares at the price of $88.08 back on Mar 15 ’24. After this action, Miller Joseph now owns 1,166 shares of Consolidated Edison, Inc., valued at $95 using the latest closing price.

Cawley Timothy, the Chairman, President & CEO of Consolidated Edison, Inc., purchase 27 shares at $87.21 during a trade that took place back on Feb 29 ’24, which means that Cawley Timothy is holding 86,203 shares at $2,316 based on the most recent closing price.

Stock Fundamentals for ED

Current profitability levels for the company are sitting at:

  • 0.17 for the present operating margin
  • 0.51 for the gross margin

The net margin for Consolidated Edison, Inc. stands at 0.17. The total capital return value is set at 0.04. Equity return is now at value 12.04, with 3.72 for asset returns.

Based on Consolidated Edison, Inc. (ED), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.09. The debt to equity ratio resting at 1.18. The interest coverage ratio of the stock is 2.47.

Currently, EBITDA for the company is 5.1 billion with net debt to EBITDA at 4.67. When we switch over and look at the enterprise to sales, we see a ratio of 3.76. The receivables turnover for the company is 3.87for trailing twelve months and the total asset turnover is 0.22. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.01.

Conclusion

In a nutshell, Consolidated Edison, Inc. (ED) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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