Consolidated Edison
Runs New York City-centered electric, gas, and steam utility networks.
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Profile
Delivers electricity, natural gas, and steam through regulated utilities serving New York City, Westchester County, southeastern New York, and northern New Jersey, with a small electric-transmission investment arm. Nearly all earnings come from utility rates approved by state regulators.
Delivers electricity, natural gas, and steam through regulated utilities centered on New York City. Consolidated Edison Company of New York serves the city and most of Westchester County, including Manhattan's district steam network; Orange & Rockland Utilities distributes electricity in southeastern New York and northern New Jersey and gas in southeastern New York.
Runs dense urban networks where reliability, storm response, system upgrades, and customer service drive execution. A much smaller Con Edison Transmission arm develops and invests in bulk electric transmission projects, principally through New York Transco.
Nearly all earnings come from the regulated utilities. State utility commissions approve rates and recovery of infrastructure spending, while federal regulators oversee electric transmission; demand, weather, affordability programs, and required capital investment shape results.
Company facts
Categories
Key statistics
Year to date +7.5% · Average volume (30d) 2.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Morgan Stanley | Reiterate | Underweight | $99 | $101 | |
| Aug 17, 2026 | Evercore ISI | Reiterate | Positive | $116 | $112 | |
| Aug 7, 2026 | Barclays | Reiterate | Underweight | $110 | $106 | |
| Jul 27, 2026 | Mizuho Securities | Target | $105 | $114 | ||
| Jul 23, 2026 | Keybanc | Reiterate | Underweight | $97 | $94 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.76 | $0.83 | +9.8% | $3.60B | $4.07B | +13.1% | −0.89% |
| May 7, 2026Q1 FY26 | $2.28 | $2.17 | −4.8% | $5.22B | $5.10B | −2.4% | −0.08% |
| Feb 19, 2026Q4 FY25 | $0.86 | $0.89 | +4.0% | $3.61B | $4.00B | +10.6% | −1.89% |
| Nov 6, 2025Q3 FY25 | $1.74 | $1.90 | +9.2% | $4.22B | $4.53B | +7.4% | +1.58% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.80B | $3.60B | $4.53B | $4.00B | $5.10B | $4.07B | |
| Gross profit | $3.02B | $1.83B | $3.59B | $2.06B | $3.72B | $4.07B | |
| Operating income | $1.13B | $355.0M | $968.0M | $483.0M | $1.18B | $552.0M | |
| Net income | $791.0M | $246.0M | $688.0M | $297.0M | $924.0M | $308.0M | |
| Diluted EPS | $2.25 | $0.68 | $1.90 | $0.82 | $2.54 | $0.83 | |
| Gross margin | 63.0% | 50.8% | 79.1% | 51.5% | 73.1% | 100.0% | |
| Operating margin | 23.4% | 9.9% | 21.4% | 12.1% | 23.1% | 13.6% |
Fiscal years (4-quarter sums)FY21 $13.65B · FY22 $15.67B · FY23 $14.64B · FY24 $15.26B · FY25 $16.92B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.47B · Total debt $28.32B · Total assets $76.46B · Shareholders' equity $25.72B
Dividends
Raised for 51 straight years — most recently to $0.8875 from $0.85 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 19, 2026 | Aug 19 | Sep 15 | $0.8875 | |
| May 13, 2026 | May 13 | Jun 15 | $0.8875 | |
| Feb 18, 2026 | Feb 18 | Mar 16 | $0.8875 | raised from $0.85 |
| Nov 19, 2025 | Nov 19 | Dec 15 | $0.85 | |
| Aug 13, 2025 | Aug 13 | Sep 15 | $0.85 | |
| May 14, 2025 | May 14 | Jun 16 | $0.85 | |
| Feb 19, 2025 | Feb 19 | Mar 14 | $0.85 | raised from $0.83 |
| Nov 13, 2024 | Nov 13 | Dec 16 | $0.83 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 368.53M · Float 367.83M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 41.67M | 11.31% | 13F | Aug 7, 2026 |
| State Street Corp | 25.09M | 6.81% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 24.09M | 6.54% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 19.12M | 5.19% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 10.69M | 2.90% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | Joseph Miller | officer: VP & Controller | +1 | $106.87 |
| Mar 16, 2026 | Joseph Miller | officer: VP & Controller | +1 | $115.55 |
| Mar 12, 2026 | Deneen L. Donnley | officer: SVP and General Counsel | −1,922 | $113.94 |
| Feb 27, 2026 | William J. Mulrow | director | −7,912 | $112.81 |
| Dec 15, 2025 | Joseph Miller | officer: VP & Controller | +1 | $97.68 |
Peers
- National Grid (ADR)
NYC gas territory neighbor; electric and gas delivery across NY and New England.
- Public Service Enterprise Group
NJ-adjacent regulated electric and gas delivery; O&R territory border overlap.
- Eversource Energy
Northeast multi-utility in CT/MA/NH; regional regulated peer to ED.
- Duke Energy
Largest regulated US electric utility; ED's top compensation benchmark peer.
- Southern Company
Top-revenue Southeast regulated utility with 23-year dividend growth streak.
- Dominion Energy
Refocused VA/NC regulated electric utility; comparable dividend profile to ED.
- American Electric Power
US transmission giant; ED's closest regulated capex-intensity benchmark peer.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Consolidated Edison | $107.49 | +0.01% | $39.61B | 17.7 | 17.4 | 2.2 | +13.2% |
| National Grid (ADR) | $79.35 | +0.01% | $79.78B | 18.0 | — | 3.3 | +5.7% |
| Public Service Enterprise Group | $73.19 | −0.01% | $36.47B | 18.2 | 16.3 | 2.9 | −9.0% |
| Eversource Energy | $70.84 | +0.02% | $26.64B | 18.4 | 15.1 | 1.9 | +2.3% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| Dominion Energy | $65.52 | −0.02% | $57.63B | 22.8 | 17.1 | 3.1 | +17.6% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Median | 18.4 | 17.4 | 3.0 | +2.3% |