New York-based Consolidated Edison, Inc. (ED) operates regulated electric, gas, and steam delivery businesses in the United States. The company has a market cap of $44.2 billion, serves approximately 3.7 million customers in New York City and Westchester County, and provides gas and steam to millions.
ED stock has rallied the broader market over the past year, surging 19.7% compared to the S&P 500 Index’s ($SPX) 11.3% surge. Moreover, in 2026, the stock has grown nearly 20%, outperforming the SPX’s 11.3% rise.
Zooming in, the State Street Utilities Select Sector SPDR ETF (XLU) has declined 2.3% over the past year, lagging behind the stock. In 2026, XLU has grown 2.7% and has also underperformed the stock.
On Nov. 6, ED stock rose nearly 1% after releasing mixed Q3 2026 earnings. The company’s quarterly revenue totaled $4.9 billion, beating the Street’s forecasts. However, its adjusted EPS came in at $2.06, missing consensus estimates. Consolidated Edison expects full-year earnings of $6.05 to $6.15 per share.
For the current year, which ends in December, analysts expect ED’s EPS to rise 7% to $6.10 on a diluted basis. The company has met or surpassed the consensus estimate in two of the last four quarters, while missing on two occasions.
Among the 18 analysts covering ED stock, the consensus is a “Hold.” That’s based on three “Strong Buy” ratings, nine “Holds,” one “Moderate Sell,” and five “Strong Sells.”
The configuration has grown more bullish over the past months, with the stock now having three “Strong Buys” as compared to only two three months ago.
On Nov. 6, Barclays analyst Nicholas Campanella maintained a “Sell” rating for ED and raised its price target from $106 to $108.
ED’s mean price target of $110.47 is below the current market price. Its Street-high target of $134 implies a robust 12.4% upside from current levels.
On the date of publication, Aritra Gangopadhyay did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.