Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company 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 1,576 customers in parts of Manhattan. It also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. The company operates 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 89,673 in-service line transformers; 3,729 pole miles of overhead distribution lines; and 2,210 miles of underground distribution lines, as well as 4,341 miles of mains and 377,490 service lines for natural gas distribution. In addition, it owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. The company primarily sells electricity to industrial, commercial, residential, and government customers. Consolidated Edison, Inc. was founded in 1823 and is based in New York, New York.
IPO Year:
Exchange: NYSE
Website: conedison.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/15/2024 | $103.00 → $116.00 | Neutral → Buy | Citigroup |
| 10/9/2024 | $108.00 | Hold | Jefferies |
| 7/22/2024 | $97.00 → $92.00 | Equal Weight → Underweight | Barclays |
| 1/4/2024 | Underweight → Sector Weight | KeyBanc Capital Markets | |
| 1/3/2024 | $92.50 | Neutral | Ladenburg Thalmann |
| 10/17/2023 | $96.00 → $94.00 | Underweight → Equal Weight | Wells Fargo |
| 8/23/2023 | $88.00 | Equal Weight | Barclays |
| 7/21/2023 | $92.00 → $103.00 | Neutral → Buy | BofA Securities |
| 6/8/2023 | $88.00 | Sell | Goldman |
| 3/22/2023 | $104.00 | Hold → Buy | Argus |
Analysts' ratings for Consolidated Edison (NYSE:ED) over the last quarter vary from bullish to bearish, as provided by 7 analysts. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 0 4 3 0 Last 30D 0 0 0 1 0 1M Ago 0 0 1 1 0 2M Ago 0 0 1 1 0 3M Ago 0 0 2 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $90.43, a high estimate of $97.00, and a low estimate of $76.00. Marking an increase of 2.6%, the current average surpasses the previous
Barclays analyst Nicholas Campanella downgrades Consolidated Edison (NYSE:ED) from Equal-Weight to Underweight and lowers the price target from $97 to $92.
UBS analyst William Appicelli maintains Consolidated Edison (NYSE:ED) with a Neutral and raises the price target from $92 to $96.
Morgan Stanley analyst David Arcaro maintains Consolidated Edison (NYSE:ED) with a Underweight and lowers the price target from $80 to $76.
Consolidated Edison, Inc. (Con Edison) (NYSE:ED) and Consolidated Edison Company of New York, Inc. (CECONY) today announced that Robert Hoglund plans to retire from the role of the Chief Financial Officer on July 8, 2024, and will continue to serve as Senior Vice President of Con Edison and CECONY to provide for a smooth transition until his retirement later in 2024. As part of the company's succession plan, Kirkland B. Andrews will succeed Robert Hoglund as Senior Vice President and Chief Financial Officer, effective July 8, 2024. Mr. Andrews joins Con Edison from Evergy, Inc. (NASDAQ:EVRG), where he served as Executive Vice President and Chief Financial Officer. Mr. Andrews will report
Morgan Stanley analyst David Arcaro maintains Consolidated Edison (NYSE:ED) with a Underweight and raises the price target from $73 to $80.
Mizuho analyst Anthony Crowdell maintains Consolidated Edison (NYSE:ED) with a Neutral and raises the price target from $93 to $95.
Barclays analyst Nicholas Campanella maintains Consolidated Edison (NYSE:ED) with a Equal-Weight and raises the price target from $89 to $97.
Wells Fargo analyst Sarah Akers maintains Consolidated Edison (NYSE:ED) with a Equal-Weight and raises the price target from $93 to $97.
Consolidated Edison (NYSE:ED) reported quarterly earnings of $2.15 per share which beat the analyst consensus estimate of $1.88 by 14.36 percent. This is a 17.49 percent increase over earnings of $1.83 per share from the same period last year. The company reported quarterly sales of $4.28 billion which missed the analyst consensus estimate of $4.40 billion by 2.73 percent. This is a 2.79 percent decrease over sales of $4.40 billion the same period last year.
NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) today reported 2024 third quarter net income for common stock of $588 million or $1.70 a share compared with $526 million or $1.53 a share in the 2023 third quarter. Adjusted earnings (non-GAAP) were $583 million or $1.68 a share in the 2024 period compared with $561 million or $1.62 a share in the 2023 period. Adjusted earnings and adjusted earnings per share in the 2024 and 2023 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments. Adjusted earnings and adjusted earnings per share in the 2024 period exclude accretion of the basis difference o
Storage Capacity Installed of 336 Megawatt hours in Q3, exceeding high-end of guidance range and representing 92% year-over-year growth, as storage attachment rates reach 60% Solar Energy Capacity Installed of 230 Megawatts in Q3, at the high-end of prior guidance range, reaching 7.3 Gigawatts of Networked Solar Energy Capacity Cash Generation of $2.5 million in Q3, second consecutive quarter of positive Cash Generation Reiterating Cash Generation guidance of $350 million to $600 million in 2025 Net Earning Assets increases to $6.2 billion, including over $1 billion of Total Cash Sunrun becomes the first clean energy company to surpass 1 million residential solar customers SAN FRANCISC
NEW YORK, Oct. 23, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) plans to report its 3rd Quarter 2024 earnings on November 7, 2024 after the market closes. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues for year-end 2023 and $68 billion in assets as of June 30, 2024. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric service in New York City and New York's Westchester County, gas service in Manhattan, the Bro
PEARL RIVER, N.Y. and SAN FRANCISCO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Sunrun (NASDAQ:RUN), the nation's leading provider of clean energy as a subscription service, and Orange and Rockland Utilities, Inc. (O&R), a wholly owned subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the nation's largest investor-owned energy companies, have successfully activated New York's largest residential power plant using more than 300 solar-plus-storage systems. During dozens of peak electricity demand events this summer, the home batteries supplied stored solar energy to help stabilize the electric grid. The Sunrun-managed power plant was initiated by O&R and approved as a demonstration project b
Twelve electric school buses topped with solar panels will also serve local schools as part of revolutionary demonstration project BROOKLYN, N.Y., Oct. 22, 2024 /PRNewswire/ -- The Brooklyn community is on the brink of a transformative change, as the electrification of school buses promises to drastically reduce emissions, eliminate noise pollution, and lead the charge against climate change. Student transportation and electrification leader, First Student, along with Con Edison, one of the world's largest energy delivery systems serving New York City and Westchester County, are spearheading this electric revolution.
NEW YORK, Oct. 17, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) declared a quarterly dividend of 83 cents a share on its common stock, payable December 16, 2024 to stockholders of record as of November 13, 2024. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues for year-ended 2023 and $68 billion in assets as of June 30, 2024. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric service in New York City
NEW YORK, Sept. 30, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (NYSE:ED) will make a clean energy presentation from 9 a.m. to 10 a.m. Eastern Time on Tuesday, October 8, 2024. The presentation will be followed by a question-and-answer session. The live webcast and replay will be available at https://wsw.com/webcast/cc/ed6/1188378. The link will also be posted on the Con Edison Investor Relations website at https://investor.conedison.com/presentations-webcasts. Presenters from the company's senior leadership will include: Tim Cawley, Chairman, President and CEO, Consolidated Edison, Inc. and Chairman and CEO, Consolidated Edison Company of New York, Inc.Matt Ketschke, President, Consolida
NEW YORK, Sept. 16, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (NYSE:ED) will make a clean energy presentation from 9 a.m. to 10 a.m. Eastern Time on Tuesday, October 8, 2024. Con Edison's corporate leadership team, led by Chairman and CEO Timothy Cawley, will discuss Con Edison's strategy to help New York State achieve its environmental goals, which the company supports. The team will also discuss environmental, social and governance practices. The presentation will be followed by a question-and-answer session. Con Edison will provide additional details, including a link to the live webcast, before the event. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy
NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Consolidated Edison, Inc. ("Con Edison") (NYSE:ED) executives will meet with investors at conferences in September and October 2024. The presentation will be followed by a question-and-answer session. A copy of Con Edison's investor presentation for these meetings can be found on the Presentations & Webcasts page of Con Edison's website (Select "For Investors" and then select "Presentation & Webcasts"). Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues for year-end 2023 and $68 billion in assets as of June 30, 2024. The company provides a wide range of en
Researched by Industrial Info Resources -- California is no stranger to massive heat waves and resulting power shortages. But record temperatures this summer--sometimes exceeding 110 degrees Fahrenheit--are not resulting in rolling blackouts, voluntary power reductions, or even text-message warnings from the state. The reason? Battery energy-storage system (BESS) technology, which has skyrocketed from 1,474 megawatts (MW) of installed capacity in 2020 to 10,383 MW so far in 2024, according to the California Energy Commission. Industrial Info is tracking more than $4.5 billion worth of BESS projects nearing or under construction across California, more than half of which is attributed to gra
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NEW YORK, June 10, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) and Consolidated Edison Company of New York, Inc. (CECONY) today announced that Robert Hoglund plans to retire from the role of the Chief Financial Officer on July 8, 2024, and will continue to serve as Senior Vice President of Con Edison and CECONY to provide for a smooth transition until his retirement later in 2024. As part of the company's succession plan, Kirkland B. Andrews will succeed Robert Hoglund as Senior Vice President and Chief Financial Officer, effective July 8, 2024. Mr. Andrews joins Con Edison from Evergy, Inc. (NASDAQ:EVRG), where he served as Executive Vice President and Chief Fina
NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) today reported 2024 third quarter net income for common stock of $588 million or $1.70 a share compared with $526 million or $1.53 a share in the 2023 third quarter. Adjusted earnings (non-GAAP) were $583 million or $1.68 a share in the 2024 period compared with $561 million or $1.62 a share in the 2023 period. Adjusted earnings and adjusted earnings per share in the 2024 and 2023 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments. Adjusted earnings and adjusted earnings per share in the 2024 period exclude accretion of the basis difference o
Storage Capacity Installed of 336 Megawatt hours in Q3, exceeding high-end of guidance range and representing 92% year-over-year growth, as storage attachment rates reach 60% Solar Energy Capacity Installed of 230 Megawatts in Q3, at the high-end of prior guidance range, reaching 7.3 Gigawatts of Networked Solar Energy Capacity Cash Generation of $2.5 million in Q3, second consecutive quarter of positive Cash Generation Reiterating Cash Generation guidance of $350 million to $600 million in 2025 Net Earning Assets increases to $6.2 billion, including over $1 billion of Total Cash Sunrun becomes the first clean energy company to surpass 1 million residential solar customers SAN FRANCISC
NEW YORK, Oct. 17, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) declared a quarterly dividend of 83 cents a share on its common stock, payable December 16, 2024 to stockholders of record as of November 13, 2024. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues for year-ended 2023 and $68 billion in assets as of June 30, 2024. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric service in New York City
NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) today reported 2024 second quarter net income for common stock of $202 million or $0.58 a share compared with $226 million or $0.65 a share in the 2023 second quarter. Adjusted earnings (non-GAAP) were $203 million or $0.59 a share in the 2024 period compared with $210 million or $0.61 a share in the 2023 period. Adjusted earnings and adjusted earnings per share in the 2024 and 2023 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments. Adjusted earnings and adjusted earnings per share in the 2023 period exclude adjustments to the gain and other
NEW YORK , July 18, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) declared a quarterly dividend of 83 cents a share on its common stock, payable September 16, 2024 to stockholders of record as of August 14, 2024. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues and $67 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric service in New York City and New York's Westchester County, gas s
Kirk Andrews to depart as CFO; Geoffrey Ley appointed acting CFO Evergy, Inc. (NASDAQ:EVRG) announced today the departure of Executive Vice President and Chief Financial Officer (CFO) Kirk Andrews. Andrews will leave to become CFO at Consolidated Edison, Inc (NYSE:ED). Evergy has named Geoffrey Ley, vice president, corporate planning and treasurer, as acting CFO, effective when Andrews leaves the company on June 21, 2024. Ley will serve as acting CFO while the company conducts an internal and external search for the role. Ley joined the company in 2021 and will continue with his current responsibilities in addition to serving as acting CFO. Prior to Evergy, Ley was vice president and ch
NEW YORK, May 2, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) today reported 2024 first quarter net income for common stock of $720 million or $2.08 a share compared with $1,433 million or $4.06 a share in the 2023 first quarter. Adjusted earnings were $742 million or $2.15 a share in the 2024 period compared with $645 million or $1.83 a share in the 2023 period. Adjusted earnings and adjusted earnings per share in the 2024 period exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments and adjustments to the gain and other impacts related to the sale of its former subsidiary, Con Edison Clean Energy Businesses, Inc.
NEW YORK, April 18, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) declared a quarterly dividend of 83 cents a share on its common stock, payable June 14, 2024 to stockholders of record as of May 15, 2024. Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $15 billion in annual revenues and $66 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric service in New York City and New York's Westchester County, gas service i
NEW YORK, Feb. 15, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) today reported 2023 net income for common stock of $2,519 million or $7.25 a share compared with $1,660 million or $4.68 a share in 2022. Adjusted earnings (non-GAAP) were $1,762 million or $5.07 a share in the 2023 period compared with $1,620 million or $4.57 a share in 2022. Adjusted earnings and adjusted earnings per share in the 2023 and 2022 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments, the gain and other impacts related to the sale of its former subsidiary, Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses), t
Dividend Increases for 50th Consecutive Year NEW YORK, Jan. 18, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) declared a quarterly dividend of 83 cents a share on its common stock, payable March 15, 2024 to stockholders of record as of February 14, 2024, an annualized increase of 8 cents over the previous annualized dividend of $3.24 a share. "The 50th consecutive annual increase for stockholders, the longest period of consecutive annual dividend increases of any utility in the S&P 500 index, reflects our continued emphasis on providing a return to our investors while meeting the needs of our customers during the clean energy transition," said Robert Hoglund, Con Edis
Citigroup upgraded Con Edison from Neutral to Buy and set a new price target of $116.00 from $103.00 previously
Jefferies initiated coverage of Con Edison with a rating of Hold and set a new price target of $108.00
Barclays downgraded Con Edison from Equal Weight to Underweight and set a new price target of $92.00 from $97.00 previously
KeyBanc Capital Markets upgraded Con Edison from Underweight to Sector Weight
Ladenburg Thalmann initiated coverage of Con Edison with a rating of Neutral and set a new price target of $92.50
Wells Fargo upgraded Con Edison from Underweight to Equal Weight and set a new price target of $94.00 from $96.00 previously
Barclays initiated coverage of Con Edison with a rating of Equal Weight and set a new price target of $88.00
BofA Securities upgraded Con Edison from Neutral to Buy and set a new price target of $103.00 from $92.00 previously
Goldman initiated coverage of Con Edison with a rating of Sell and set a new price target of $88.00
Argus upgraded Con Edison from Hold to Buy and set a new price target of $104.00
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