Consolidated Edison (ED) Hits New Lifetime High Today

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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 $153.8 million.
  • ED has traded 3,919 shares today.
  • ED is trading at a new lifetime high.

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More details on ED:

Consolidated Edison, Inc. is engaged in regulated electric, gas, and steam delivery businesses in the United States. The stock currently has a dividend yield of 3.9%. ED has a PE ratio of 15.3. Currently there is 1 analyst that rates Consolidated Edison a buy, 4 analysts rate it a sell, and 5 rate it a hold.

The average volume for Consolidated Edison has been 2.5 million shares per day over the past 30 days. Consolidated Edison has a market cap of $19.0 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.27 and a short float of 6.2% with 7.84 days to cover. Shares are up 18.6% 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 attractive valuation levels, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • Net operating cash flow has significantly increased by 86.41% to $494.00 million when compared to the same quarter last year. In addition, CONSOLIDATED EDISON INC has also vastly surpassed the industry average cash flow growth rate of -3.87%.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. 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 debt-to-equity ratio is somewhat low, currently at 0.99, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Even though the company has a strong debt-to-equity ratio, the quick ratio of 0.44 is very weak and demonstrates a lack of ability to pay short-term obligations.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Multi-Utilities industry and the overall market on the basis of return on equity, CONSOLIDATED EDISON INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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