The stock has traded past its analyst consensus target, leaving negative implied upside from current levels; a recent earnings miss, deeply negative free cash flow, a high yield flagged as potentially uncovered, and concentrated exposure to a single state regulator and metropolitan area combine to produce an unfavorable risk/reward that supports reducing the position.
Thesis pillars
- Regulatory Geographic Concentration→Stable
- Negative Free Cash Flow Earnings Quality→Stable
- Stock Above Analyst Target→Stable
- +1 more pillar — see the Why tab for full reasoning
Consolidated Edison, Inc. (ED) Stock Analysis
Utilities · Utilities - Regulated Electric
Sell if holding. At $113.99, A.R:R is negative (-1.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Regulatory: NYSPSC; Concentration risk — Geographic: New York City.
Consolidated Edison is a New York holding company whose principal subsidiaries — CECONY and O&R — deliver electricity, natural gas, and steam under regulated tariffs approved by the NYSPSC. CECONY serves approximately 3.7 million electric and 1.1 million gas customers in New... Read more
Sell if holding. At $113.99, A.R:R is negative (-1.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Regulatory: NYSPSC; Concentration risk — Geographic: New York City. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.2/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 33d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Consolidated Edison, Inc.
About Consolidated Edison, Inc.
Consolidated Edison's regulated Utilities — CECONY and O&R — collectively serve approximately 4.1 million electric customers and over 1.2 million gas customers across New York City, Westchester County, southeastern New York, and northern New Jersey. CECONY generated $11.7 billion in electric delivery revenues in 2025 and operates the single longest underground electric distribution system in the United States. Both Utilities are subject to NYSPSC-approved rate plans; FERC regulates electric transmission rates.
Con Edison earns revenue from rate-based delivery of electricity, natural gas, and steam under tariffs approved by the NYSPSC, with rates set to recover the Utilities' cost of service including a return on equity. CECONY's electric delivery revenues include a revenue decoupling mechanism, so delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. In 2025, 56% of the electricity CECONY delivered was purchased by customers from other suppliers under a retail choice program, with CECONY earning delivery fees without commodity margin. The Utilities estimate capital expenditures will exceed $37,100 million over the next five years, driven by grid infrastructure investment. CECONY's steam system, the largest in the United States, delivers approximately 16,975 MMlb of steam annually to approximately 1,490 Manhattan customers. Con Edison Transmission invests in electric transmission projects through joint ventures subject to FERC regulation.
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The NYSPSC wields broad authority over the Utilities: it may impose material penalties for violations of state utility laws, conduct at-least-five-year reviews of a utility's service adequacy, and in extreme cases revoke or modify operating certificates. Rate plans include negative revenue adjustments for failure to meet operating and customer satisfaction standards. The NYSPSC approved CECONY's and O&R's emergency response plans in March 2025 and required updated 2026 plans by December 2025. In March 2026, Con Edison disclosed via Form 8-K that the Companies entered into a new Credit Agreement with Bank of America, N.A. as Administrative Agent, replacing two prior credit facilities from 2023 and 2025.
See also: Utilities · Utilities - Regulated Electric
From Consolidated Edison, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-07-06Recent Developments — Consolidated Edison, Inc.
Latest news
- NEWS Consolidated Edison Inc. (ED) - Defensive Dividend Appeal Remains Compelling for Income Investors in 2026 - Stock Commun — Newser positive
- NEWS Consolidated Edison (ED) Stock: Price Action Analysis | Q4 2025: Profit Disappoints - Crowd Trend Signals - Newser — Newser negative
- NEWS Consolidated Edison (ED) Stock: Price Action Analysis | Q4 2025: Profit Disappoints - Core Business Growth - Newser — Newser negative
- NEWS Con Ed (ED) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates - Yahoo Finance — Yahoo Finance neutral
- NEWS Why Consolidated Edison Stock Is Sinking Today - TipRanks — TipRanks negative
Generated 2026-07-06T06:00:34Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHregulatoryNYSPSC10-K Item 1: 'The Utilities are subject to regulation by the NYSPSC, that under the New York Public Service Law, is authorized to set the terms of service and the rates the Utilities charge'
- HIGHGeographicNew York City10-K Item 1: 'CECONY provides electric service to approximately 3.7 million customers in all of New York City (except a part of Queens) and most of Westchester County'
Material Events(8-K, last 90d)
- 2026-03-11Item 1.01LOWCon Edison, CECONY, and O&R entered into a new Credit Agreement on March 11, 2026 with Bank of America, N.A. as Administrative Agent, replacing prior facilities. No reason cited beyond maturity/renewal.SEC filing →
- 2026-03-11Item 1.02MEDIUMTermination of two prior credit agreements: the March 27, 2023 Credit Agreement and the March 24, 2025 364-Day Revolving Credit Agreement, both with Bank of America, N.A. Terminated upon entry into replacement Credit Agreement same date.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $113.99, A.R:R is negative (-1.3) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Regulatory: NYSPSC; Concentration risk — Geographic: New York City. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $110.17. Score 5.2/10, moderate confidence.
Take-profit target: $111.81 (-1.9% upside). Prior stop was $110.17. Stop-loss: $110.17.
Concentration risk — Regulatory: NYSPSC; Concentration risk — Geographic: New York City; Analyst target reached - limited upside remaining.
Consolidated Edison, Inc. trades at a P/E of 19.2 (forward 17.6). TrendMatrix value score: 5.5/10. Verdict: Sell.
26 analysts cover ED with a consensus score of 2.6/5. Average price target: $110.
What does Consolidated Edison, Inc. do?Consolidated Edison is a New York holding company whose principal subsidiaries — CECONY and O&R — deliver electricity,...
Consolidated Edison is a New York holding company whose principal subsidiaries — CECONY and O&R — deliver electricity, natural gas, and steam under regulated tariffs approved by the NYSPSC. CECONY serves approximately 3.7 million electric and 1.1 million gas customers in New York City and Westchester County, generating $11.7 billion in electric delivery revenues in 2025.