NEW YORK ( TheStreet) -- Consolidated Edison (NYSE: ED) hit a new 52-week high Friday as it is currently trading at $61.92, above its previous 52-week high of $61.88 with 950,118 shares traded as of 3:55 p.m. ET. Average volume has been two million shares over the past 30 days.

Consolidated Edison has a market cap of $18.08 billion and is part of the utilities sector and utilities industry. Shares are up 24.3% year to date as of the close of trading on Thursday.

Consolidated Edison, Inc., through its subsidiaries, provides energy services to residential, commercial, industrial, and government customers in the United States. The company, through its subsidiary, Consolidated Edison Company of New York, Inc. The company has a P/E ratio of 16.6, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Consolidated Edison as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, good cash flow from operations, solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Consolidated Edison Ratings Report.

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