Consolidated Edison, Inc. (ED), headquartered in New York, engages in the regulated electric, gas, and steam delivery businesses. With a market cap of $35.5 billion, the company is committed to providing safe and reliable energy services to millions of customers across its service territories.
Shares of this leading utility have underperformed the broader market over the past year. ED has gained 1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 12.7%. In 2025, ED’s stock rose 10.4%, compared to the SPX’s 14.4% rise on a YTD basis.
Narrowing the focus, ED’s underperformance is also apparent compared to the Utilities Select Sector SPDR Fund (XLU). The exchange-traded fund has gained about 15.5% over the past year. Moreover, the ETF’s 18.5% returns on a YTD basis outshine the stock’s gains over the same time frame.
On Nov. 6, ED shares closed up marginally after reporting its Q3 results. Its adjusted EPS of $1.90 beat Wall Street expectations of $1.76. The company’s revenue was $4.5 billion, beating Wall Street forecasts of $4.2 billion. ED expects full-year adjusted EPS in the range of $5.60 to $5.70.
For the current fiscal year, ending in December, analysts expect ED’s EPS to grow 4.3% to $5.63 on a diluted basis. The company’s earnings surprise history is mixed. It beat the consensus estimate in three of the last four quarters while missing the forecast on another occasion.
Among the 17 analysts covering ED stock, the consensus is a “Hold.” That’s based on three “Strong Buy” ratings, eight “Holds,” one “Moderate Sell,” and five “Strong Sells.”
This configuration is less bullish than three months ago, with four analysts suggesting a “Strong Buy.”
On Nov. 7, Andrew Weisel from Scotiabank maintained a “Hold” rating on ED with a price target of $106, implying a potential upside of 7.6% from current levels.
The mean price target of $105.47 represents a 7.1% premium to ED’s current price levels. The Street-high price target of $128 suggests an upside potential of 29.9%.
