We are reaffirming our $91 per share fair value estimate for Consolidated Edison after the company reported earning $2.15 per share on an adjusted basis during the first quarter, up from $1.83 during the first quarter of 2023. Earnings are on track to meet our full-year estimate and management's $5.20-$5.40 EPS guidance range.
We think Con Ed received a good price for its renewable energy business. It now has the capital to execute its utility investment growth plan.
New York regulators have awarded Con Ed's utilities allowed returns on equity below industry averages.
|
Metric
|
ED
|
PEG
|
DTE
|
|---|---|---|---|
Price/Earnings (Normalized) | 19.90 | 21.92 | 19.24 |
Price/Book Value | 1.55 | 2.37 | 2.16 |
Price/Sales | 2.32 | 3.64 | 1.97 |
Price/Cash Flow | 7.85 | 14.91 | 7.94 |
|
Metric
|
ED
|
PEG
|
DTE
|
|---|---|---|---|
Quick Ratio | 0.77 | 0.54 | 0.31 |
Current Ratio | 1.01 | 0.79 | 0.60 |
Interest Coverage | 3.94 | 3.86 | 2.91 |
|
Metric
|
ED
|
PEG
|
DTE
|
|---|---|---|---|
Return on Assets (Normalized) | 2.78% | 2.64% | 2.84% |
Return on Equity (Normalized) | 8.52% | 8.74% | 11.51% |
Return on Invested Capital (Normalized) | 5.87% | 5.22% | 6.14% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
NEE
| NextEra Energy Inc | Bqtlqvxl | Pttkp | $156.3 Bil | |
SO
| Southern Co | Xbybpmpp | Mzcmtn | $87.0 Bil | |
DUK
| Duke Energy Corp | Rrsfgph | Ccdwmx | $79.4 Bil | |
NGG
| National Grid PLC ADR | Rhczqbrb | Yzym | $53.6 Bil | |
AEP
| American Electric Power Co Inc | Smnjblph | Yzcxxxv | $48.8 Bil | |
PCG
| PG&E Corp | Nzvymgvf | Lqcq | $48.6 Bil | |
D
| Dominion Energy Inc | Mmyhdzbd | Trnxhbx | $44.8 Bil | |
EXC
| Exelon Corp | Fpqthkfr | Gpcnj | $38.6 Bil | |
PEG
| Public Service Enterprise Group Inc | Gshygvyg | Nyqjdg | $37.1 Bil |
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