Key Stats for Consolidated Edison Stock
- Past-Week Performance: +2%
- 52-Week Range: $95 to $116.2
- Current Price: $111.7
What Happened?
Consolidated Edison (ED), a regulated electric and gas utility serving New York City, raised its 52nd consecutive annual dividend while guiding for 6%–7% five-year adjusted EPS growth from a $6.10 midpoint, even as the stock trades at $111.68 near its 52-week high of $116.23.
On February 19, Con Edison reported Q4 2025 operating expenses of $3.51 billion, up from $3.16 billion a year earlier, and interest expense of $313 million versus $304 million, the two cost pressures that drove the quarterly miss.
Also, Con Edison’s Q4 2025 adjusted EPS of $0.89 missed the $0.95 Wall Street consensus as operating expenses rose to $3.51 billion from $3.16 billion a year earlier, and interest expense climbed to $313 million from $304 million.
Normalized EPS reached $5.70 in FY 2025 and, as TIKR estimates, grows to $6.08 in 2026 and $6.49 in 2027, while EBITDA margins expand from 31.0% in 2025 to 33.0% in 2026 and 35.3% in 2027, reflecting the company’s rate-case-driven cost recovery in a capital-intensive regulated utility model.
Separately, on February 23, Jefferies raised its price target to $118 from $112 while reiterating “Hold,” citing the recently approved rate case for Con Edison of New York, a state-regulated plan that sets allowed revenues and returns for three years, as the foundation for earnings stability through 2028.
Kirk Andrews, Senior Vice President and CFO, stated in the February 19 earnings press release that “the three-year rate plan provides a solid foundation, and we expect five-year adjusted EPS to grow at a compounded annual rate target of 6 to 7 percent with the midpoint of our 2026 adjusted EPS guidance as a baseline,” tying the rate case approval directly to the company’s multi-year earnings trajectory.
The $3.5 billion revolving credit facility signed March 11 with Bank of America, extendable to $4.0 billion and running to March 2031, provides the liquidity runway to fund $24.3 billion in aggregate capital investment from 2028 through 2030, positioning Con Edison’s regulated infrastructure base as a durable compounder for income-oriented investors.
Wall Street’s Take on ED Stock
The Q4 cost miss obscured the structural story: Con Edison’s newly approved rate case for its New York utility operations locks in cost recovery through 2028, directly supporting TIKR’s estimate of EBITDA margins expanding from 31.0% in 2025 to 35.3% by 2027.
Normalized EPS grows from $5.70 in 2025 to $6.08 in 2026 and $6.49 in 2027, a progression grounded in $6.6 billion of planned 2026 capital investment in regulated infrastructure, where the approved return on equity converts spending directly into earnings.
Fourteen of 16 analysts covering ED carry a hold, underperform, or sell rating, with a mean price target of $110.88 and a median of $111.00, implying roughly 0.7% downside from $111.68, signaling the Street prices in stability but not the full margin recovery the rate case enables.
The $35 spread between the Street’s $95 low and $130 high target reflects two distinct views: bears anchor to affordability risk in the next rate-case cycle beyond 2028, while bulls price in full execution of the $24.3 billion 2028–2030 capital plan.
What Does the Valuation Model Say?
TIKR’s mid-case price target of $163.35, implying a 46.3% total return at an 8.3% IRR over 4.8 years, rests on a 4.1% revenue CAGR and net income margins expanding from 12.0% in 2025 to 15.2% by 2030, driven by the rate-case recovery cycle and the $3.5 billion credit facility funding capital deployment through March 2031.
The Street prices ED as a flat-yield utility, but TIKR’s model shows normalized net income growing from $2.04 billion in 2025 to $3.12 billion by 2030, a 53% absolute gain the $110.88 consensus mean target does not reflect.
The $3.5 billion revolving credit facility signed March 11, extendable to $4.0 billion, provides the funding infrastructure that makes TIKR’s $163.35 mid-case target executable across the full capital deployment window through 2031.
Kirk Andrews tied the 6%–7% EPS CAGR directly to the approved rate plan, a regulatory commitment that functions as a contractual earnings floor rather than aspirational guidance for a capital-intensive utility.
The risk is that the next rate-case cycle beyond 2028 fails to secure approval for higher capital spending amid affordability pressure in New York, which would compress the EBITDA margin expansion underpinning TIKR’s $163.35 target.
The forward sale agreement settlement, expected by December 2026, is the number to watch: $775.7 million in net proceeds fund subsidiaries’ capital requirements, and on-schedule deployment confirms whether the 2026 EBITDA margin expansion to 33.0% is tracking.
Should You Invest in Consolidated Edison, Inc.?
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Pull up ED stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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