Consolidated Edison, Inc. (ED), headquartered in New York, engages in the regulated electric, gas, and steam delivery businesses. With a market cap of $36.9 billion, the company is committed to providing safe and reliable energy services to millions of customers across its service territories. 

Companies worth $10 billion or more are generally described as “large-cap stocks,” and ED perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the regulated electric utilities industry. ED’s strategic investing in utility construction and divesting its clean energy business to RWE demonstrate a forward-thinking approach to sustainable growth. By streamlining operations and focusing on core utility services, the company enhances long-term reliability and efficiency. The consistent revenue growth underscores ED's success in expanding its customer base and service offerings, solidifying its market position and paving the way for future investments.

Despite its notable strength, ED slipped 10.7% from its 52-week high of $114.87, achieved on Apr. 4. Over the past three months, ED stock has declined 1.2%, underperforming the Nasdaq Composite’s ($NASX) 12.5% gains during the same time frame.

In the longer term, shares of ED rose 14.9% on a YTD basis, outperforming NASX’s YTD gains of 1.6%. However, the stock climbed 11.8% over the past 52 weeks, underperforming NASX’s 13.1% returns over the last year.

To confirm the recent bearish trend, ED has been trading below its 50-day moving average since early May. However, the stock is trading above its 200-day moving average since late February.

On May 1, ED shares closed down marginally after reporting its Q1 results. Its adjusted EPS came in at $2.26, up 5.1% year over year. ED expects full-year adjusted EPS in the range of $5.50 to $5.70.

ED’s rival, PG&E Corporation (PCG) lagged behind the stock with a 28.7% downtick on a YTD basis and 21.4% losses over the past 52 weeks.

Wall Street analysts are cautious on ED’s prospects. The stock has a consensus “Hold” rating from the 17 analysts covering it, and the mean price target of $105.81 suggests a potential upside of 3.2% from current price levels.