Consolidated Edison (NYSE:ED) Issues FY22 Earnings Guidance

Consolidated Edison (NYSE:EDGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $4.40-4.60 for the period, compared to the consensus EPS estimate of $4.49.

NYSE:ED opened at $93.36 on Friday. The firm has a market cap of $33.07 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 10.29 and a beta of 0.23. Consolidated Edison has a fifty-two week low of $71.17 and a fifty-two week high of $99.22. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.94 and a current ratio of 1.02. The business has a 50 day moving average price of $93.01 and a 200-day moving average price of $85.54.

Consolidated Edison (NYSE:EDGet Rating) last released its quarterly earnings data on Thursday, May 5th. The utilities provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Consolidated Edison had a net margin of 9.84% and a return on equity of 7.63%. During the same period in the previous year, the business posted $1.43 EPS. Research analysts predict that Consolidated Edison will post 4.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, May 17th. Consolidated Edison’s dividend payout ratio (DPR) is presently 82.08%.

ED has been the subject of a number of analyst reports. StockNews.com lowered Consolidated Edison from a buy rating to a hold rating in a research note on Tuesday. Mizuho raised their price target on Consolidated Edison from $90.00 to $94.00 and gave the stock a buy rating in a research note on Thursday, March 10th. Credit Suisse Group began coverage on Consolidated Edison in a research note on Monday, April 25th. They issued a neutral rating and a $100.00 price target for the company. KeyCorp raised their price target on Consolidated Edison from $71.00 to $72.00 and gave the stock an underweight rating in a research note on Wednesday, April 20th. Finally, The Goldman Sachs Group raised their price target on Consolidated Edison from $65.00 to $83.00 and gave the stock a sell rating in a research note on Thursday, March 31st. Seven analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of Hold and a consensus price target of $82.83.

In other Consolidated Edison news, Director John Mcavoy sold 74,715 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $84.69, for a total transaction of $6,327,613.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 536 shares of company stock valued at $49,448 in the last three months. Insiders own 0.13% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vident Investment Advisory LLC increased its holdings in shares of Consolidated Edison by 59.1% during the fourth quarter. Vident Investment Advisory LLC now owns 42,562 shares of the utilities provider’s stock valued at $3,630,000 after acquiring an additional 15,809 shares in the last quarter. Wealthsource Partners LLC bought a new position in shares of Consolidated Edison during the fourth quarter valued at $212,000. NewEdge Advisors LLC increased its holdings in Consolidated Edison by 167.4% in the 4th quarter. NewEdge Advisors LLC now owns 10,062 shares of the utilities provider’s stock worth $859,000 after buying an additional 6,299 shares in the last quarter. First Community Trust NA bought a new stake in Consolidated Edison in the 4th quarter worth about $60,000. Finally, Toroso Investments LLC increased its holdings in Consolidated Edison by 24.7% in the 4th quarter. Toroso Investments LLC now owns 4,154 shares of the utilities provider’s stock worth $354,000 after buying an additional 824 shares in the last quarter. Hedge funds and other institutional investors own 65.73% of the company’s stock.

About Consolidated Edison (Get Rating)

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 3.5 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 1,555 customers in parts of Manhattan.

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Earnings History and Estimates for Consolidated Edison (NYSE:ED)

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