Consolidated Edison Stock Hits All-Time High of $108.44

In a remarkable display of resilience amid a volatile market, Consolidated Edison (NYSE:ED)’s stock has soared to an all-time high, reaching a price level of $108.44. According to InvestingPro data, the company appears to be trading above its Fair Value, with a market capitalization of $37.6 billion and a P/E ratio of 20.5. This peak represents a significant milestone for the utility company, known for its steady performance and reliable dividends. Over the past year, Consolidated Edison has delivered a remarkable 24.9% total return, outpacing many of its peers in the sector. The company boasts an impressive 50-year streak of consecutive dividend increases, currently offering a 3.2% yield. Investors attribute this surge to the company’s robust financial health, strategic investments in infrastructure, and a growing demand for energy as the economy recovers. The all-time high marks a period of strong investor confidence in Consolidated Edison’s ability to maintain growth and stability in the years ahead. InvestingPro analysis reveals a "GOOD" overall financial health score, with additional insights and detailed metrics available in the comprehensive Pro Research Report.

In other recent news, Consolidated Edison reported fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $0.98, surpassing the consensus estimate of $0.95, while revenue reached $3.67 billion, beating projections of $3.59 billion. For the full year 2024, adjusted earnings were reported at $5.40 per share, an increase from $5.07 in 2023. The company has projected its 2025 earnings per share to be in the range of $5.50 to $5.70, aligning closely with the analyst consensus of $5.63.

In addition to its earnings report, Consolidated Edison announced a significant expansion of its five-year capital plan, increasing it by $10 billion. The company plans to invest $5.12 billion in 2025 and $8.07 billion in 2026, with total capital investments of $24.47 billion from 2027 through 2029. Analysts from BofA Securities and Jefferies have adjusted their price targets for Consolidated Edison, with BofA raising it to $113 and maintaining a Buy rating, while Jefferies also set the target at $113 but kept a Hold rating. Evercore ISI increased its price target to $107, maintaining an In Line rating.

Furthermore, Consolidated Edison entered into an agreement with Barclays (LON:BARC) Capital Inc. for the sale of 6.3 million common shares. This move was detailed in a recent SEC filing, although the specific use of proceeds from the sale was not disclosed. These developments reflect Consolidated Edison’s ongoing financial activities and strategic initiatives aimed at delivering consistent growth and stability.

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