Consolidated Edison Inc. [ED] Revenue clocked in at $12.24 billion, down -5.66% YTD: What’s Next?

Consolidated Edison Inc. [NYSE: ED] price plunged by -2.63 percent to reach at -$1.84. The company report on February 19, 2021 that Con Edison Reports 2020 Earnings.

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Consolidated Edison, Inc. (Con Edison) (NYSE: ED) reported 2020 net income for common stock of $1,101 million or $3.29 a share compared with $1,343 million or $4.09 a share in 2019. Adjusted earnings were $1,399 million or $4.18 a share in 2020 compared with $1,438 million or $4.38 a share in 2019. Adjusted earnings and adjusted earnings per share in 2020 exclude the impact of the impairment loss related to Con Edison’s investment in Mountain Valley Pipeline, LLC. Adjusted earnings and adjusted earnings per share in 2020 and 2019 exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments in certain renewable electric production projects of Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) and the net mark-to-market effects of the Clean Energy Businesses.

For the fourth quarter of 2020, net income for common stock was $43 million or $0.13 a share compared with $295 million or $0.89 a share in 2019. Adjusted earnings were $253 million or $0.75 a share in the 2020 period compared with $288 million or $0.87 a share in the 2019 period. Adjusted earnings and adjusted earnings per share in the 2020 period exclude the impact of the impairment loss related to Con Edison’s investment in Mountain Valley Pipeline, LLC. Adjusted earnings and adjusted earnings per share in the 2020 and 2019 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable electric production projects of the Clean Energy Businesses and the net mark-to-market effects of the Clean Energy Businesses.

A sum of 4358716 shares traded at recent session while its average daily volume was at 2.72M shares. Consolidated Edison Inc. shares reached a high of $69.6425 and dropped to a low of $67.94 until finishing in the latest session at $68.18.

The one-year ED stock forecast points to a potential upside of 7.06. The average equity rating for ED stock is currently 3.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Consolidated Edison Inc. [ED]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ED shares is $73.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ED stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for Consolidated Edison Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $86 to $78. The new note on the price target was released on October 20, 2020, representing the official price target for Consolidated Edison Inc. stock. Previously, the target price had yet another raise to $82, while BofA Securities analysts kept a Neutral rating on ED stock.

The Average True Range (ATR) for Consolidated Edison Inc. is set at 1.39, with the Price to Sales ratio for ED stock in the period of the last 12 months amounting to 1.96. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 3.62. Price to Free Cash Flow for ED in the course of the last twelve months was 19.64 with Quick ratio for the last quarter at 0.70.

ED Stock Performance Analysis:

Consolidated Edison Inc. [ED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.07. With this latest performance, ED shares dropped by -2.52% in over the last four-week period, additionally sinking by -7.16% over the last 6 months – not to mention a drop of -27.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ED stock in for the last two-week period is set at 36.38, with the RSI for the last a single of trading hit 29.60, and the three-weeks RSI is set at 39.30 for Consolidated Edison Inc. [ED]. The present Moving Average for the last 50 days of trading for this stock 70.75, while it was recorded at 69.89 for the last single week of trading, and 74.34 for the last 200 days.

Insight into Consolidated Edison Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Consolidated Edison Inc. [ED] shares currently have an operating margin of +21.67 and a Gross Margin at +42.90. Consolidated Edison Inc.’s Net Margin is presently recorded at +9.00.

Return on Total Capital for ED is now 6.25, given the latest momentum, and Return on Invested Capital for the company is 2.85. Return on Equity for this stock inclined to 5.97, with Return on Assets sitting at 1.82. When it comes to the capital structure of this company, Consolidated Edison Inc. [ED] has a Total Debt to Total Equity ratio set at 133.08. Additionally, ED Total Debt to Total Capital is recorded at 57.10, with Total Debt to Total Assets ending up at 39.88. Long-Term Debt to Equity for the company is recorded at 112.21, with the Long-Term Debt to Total Capital now at 48.14.

Reflecting on the efficiency of the workforce at the company, Consolidated Edison Inc. [ED] managed to generate an average of $78,246 per employee. Receivables Turnover for the company is 5.04 with a Total Asset Turnover recorded at a value of 0.20.Consolidated Edison Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

ED Stock EPS

With the latest financial reports released by the company, Consolidated Edison Inc. posted 1.35/share EPS, while the average EPS was predicted by analysts to be reported at 1.4/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ED. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Consolidated Edison Inc. go to 1.77%.

Consolidated Edison Inc. [ED] Insider Position Details

There are presently around $14,071 million, or 64.00% of ED stock, in the hands of institutional investors. The top three institutional holders of ED stocks are: BLACKROCK INC. with ownership of 37,296,050, which is approximately 10.733% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 29,884,610 shares of the stock with an approximate value of $2.04 billion in ED stocks shares; and STATE STREET CORP, currently with $1.52 billion in ED stock with ownership of nearly -1.447% of the company’s market capitalization.

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Positions in Consolidated Edison Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 470 institutional holders increased their position in Consolidated Edison Inc. [NYSE:ED] by around 14,271,532 shares. Additionally, 383 investors decreased positions by around 17,527,467 shares, while 174 investors held positions by with 174,580,383 shares. The mentioned changes placed institutional holdings at 206,379,382 shares, according to the latest SEC report filing. ED stock had 146 new institutional investments in for a total of 3,917,750 shares, while 65 institutional investors sold positions of 825,398 shares during the same period.

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