Extremely significant positive changes in Consolidated Edison Inc. (NYSE: ED) investment behavior have recently occurred: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Recent minimal positive changes in fundamentals have benefitted Consolidated Edison Inc. (NYSE: ED): significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
ED’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Consolidated Edison has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Consolidated Edison has a good Appreciation Score of 72 but a neutral Power Rating of 45, resulting in the High Neutral Value Trend Rating.
Recent Price Action
Consolidated Edison Inc. (NYSE: ED) stock closed at $91.77 on 4/19/24 after a modest gain of 1.0%. Moreover, trading volume in this advance was exceptionally high at 387% of normal. The stock has risen 3.6% during the last week and has performed in line with the market over the last nine months.
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