Shares of Consolidated Edison Inc. (NYSE:ED) traded at a new 12-month high today of $86.42. Approximately 926,000 shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.
Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York–including New York City–and small parts of New Jersey. The two utilities generate roughly 90% of Con Ed’s earnings. The other 10% of earnings comes from investments in renewable energy projects and gas and electric transmission.
In the past 12 months, Consolidated Edison Inc. share prices are bracketed by a low of $65.56 and a high of $86.42 and are now at $85.67, 31% above that low price.
Consolidated Edison Inc. defies analysts with a current price ($85.67) 3.1% above its average consensus price target of $82.98.
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