Consolidated Edison Inc. (NYSE: ED) is -5.95% lower on its value in year-to-date trading and has touched a low of $62.03 and a high of $94.65 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ED stock was last observed hovering at around $68.18 in the last trading session, with the day’s loss setting it -0.21% off its average median price target of $72.00 for the next 12 months. It is also 18.11% off the consensus price target high of $83.00 offered by 17 analysts, but current levels are -4.57% lower than the price target low of $65.00 for the same period.
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Currently trading at $67.97, the stock is -3.73% and -3.93% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.86 million and changing -0.31% at the moment leaves the stock -8.57% off its SMA200. ED registered -24.63% loss for a year compared to 6-month loss of -6.12%. The firm has a 50-day simple moving average (SMA 50) of $70.20 and a 200-day simple moving average (SMA200) of $74.70.
The stock witnessed a -1.71% gain in the last 1 month and extending the period to 3 months gives it a -12.51%, and is -4.35% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.67% over the week and 2.00% over the month.
Consolidated Edison Inc. (ED) has around 14071 employees, a market worth around $23.88B and $12.24B in sales. Current P/E ratio is 16.81 and Fwd P/E is 14.79. Profit margin for the company is 9.00%. Distance from 52-week low is 9.58% and -28.19% from its 52-week high. The company has generated returns on investments over the last 12 months (5.20%).
Consolidated Edison Inc. (ED) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Consolidated Edison Inc. (ED) is a “Underweight”. 17 analysts offering their recommendations for the stock have an average rating of 3.50, where 8 rate it as a Hold and 1 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 8 analysts have rated the stock as a Sell or Underperform.
Consolidated Edison Inc. is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at $1.38 with sales reaching $3.46B over the same period.The EPS is expected to shrink by -19.50% this year, but quarterly earnings will post 7.60% year-over-year. Quarterly sales are estimated to grow 6.90% in year-over-year returns.
Consolidated Edison Inc. (ED) Top Institutional Holders
1,220 institutions hold shares in Consolidated Edison Inc. (ED), with 561.57k shares held by insiders accounting for 0.16% while institutional investors hold 64.91% of the company’s shares. The shares outstanding are 336.90M, and float is at 334.34M with Short Float at 1.85%. Institutions hold 64.81% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 37.3 million shares valued at $2.7 billion. The investor’s holdings represent 11.14% of the ED Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 29.88 million shares valued at $2.16 billion to account for 8.92% of the shares outstanding. The other top investors are State Street Corporation which holds 22.36 million shares representing 6.68% and valued at over $1.62 billion, while Capital Research Global Investors holds 2.02% of the shares totaling 6.78 million with a market value of $489.96 million.
Consolidated Edison Inc. (ED) Insider Activity
A total of 65 insider transactions have happened at Consolidated Edison Inc. (ED) in the last six months, with sales accounting for 0 and purchases happening 65 times. The most recent transaction is an insider purchase by Nachmias Stuart, the company’s President & CEO CET. SEC filings show that Nachmias Stuart bought 9 shares of the company’s common stock on Jan 31 at a price of $70.78 per share for a total of $667.0. Following the purchase, the insider now owns 1078.0 shares.
Consolidated Edison Inc. disclosed in a document filed with the SEC on Jan 31 that Sanchez Robert (President & CEO, O&R) bought a total of 33 shares of the company’s common stock. The trade occurred on Jan 31 and was made at $70.78 per share for $2311.0. Following the transaction, the insider now directly holds 3957.0 shares of the ED stock.
Still, SEC filings show that on Jan 31, de la Bastide Lore (SVP, Utility Shared Services) acquired 5 shares at an average price of $70.78 for $333.0. The insider now directly holds 725 shares of Consolidated Edison Inc. (ED).
Consolidated Edison Inc. (ED): Who are the competitors?
The company’s main competitors (and peers) include Public Service Enterprise Group Incorporated (PEG) that is trading -4.79% down over the past 12 months. Unitil Corporation (UTL) is -32.51% down on the 1-year trading charts. Short interest in the company’s stock has fallen -41.03% from the last report on Dec 30, 2020 to stand at a total of 8.73 million short shares sold with a short interest ratio of 2.16.