Trade-Ideas LLC identified

Consolidated Edison

(

ED

) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Consolidated Edison as such a stock due to the following factors:

  • ED has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $146.8 million.
  • ED has traded 54,363 shares today.
  • ED is trading at a new lifetime high.

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More details on ED:

Consolidated Edison, Inc., through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The stock currently has a dividend yield of 3.5%. ED has a PE ratio of 19. Currently there are no analysts that rate Consolidated Edison a buy, 2 analysts rate it a sell, and 8 rate it a hold.

The average volume for Consolidated Edison has been 2.4 million shares per day over the past 30 days. Consolidated Edison has a market cap of $22.2 billion and is part of the utilities sector and utilities industry. The stock has a beta of -0.02 and a short float of 5.1% with 7.85 days to cover. Shares are up 17.6% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Consolidated Edison as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, reasonable valuation levels, growth in earnings per share and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Multi-Utilities industry. The net income increased by 114.6% when compared to the same quarter one year prior, rising from $82.00 million to $176.00 million.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 4.6%. Since the same quarter one year prior, revenues slightly dropped by 4.3%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • CONSOLIDATED EDISON INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, CONSOLIDATED EDISON INC increased its bottom line by earning $4.06 versus $3.71 in the prior year. For the next year, the market is expecting a contraction of 1.4% in earnings ($4.01 versus $4.06).

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