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How Consolidated Edison Stock Has Fared This Year

Vincent Kruger
How Consolidated Edison Stock Has Fared This Year

Consolidated Edison (ED), one of the country’s largest utility holding companies, serves approximately 10 million customers in New York. Although its earnings have been better than expected in the last nine consecutive quarters, its stock has dulled this year and fallen more than 4%, underperforming broader utilities. Consolidated Edison’s forward PE multiple is 19x, higher than peers’ average and its own five-year historical average of ~15x.   Analysts’ target price