Consolidated Edison, Inc. stock trades under the ticker ED & has shown recent bullish behavior that traders & investors should review more closely.
ED stock closed at $94.12/share on 6/29/2022.
Consolidated Edison, Inc. ED Stock’s Technical Performance Broken Down
ED Stock Price: $94.12
10 Day Moving Average: $90.06
50 Day Moving Average: $94.51
200 Day Moving Average: $84.46
RSI: 53.1
MACD: -1.064
Yesterday, ED stock completed a bullish MACD crossover, trading on below average volume compared to the year prior.
Despite being their sixth straight day of gains, their RSI is still in the neutral range, signaling that there may be some more momentum to come in the near-term.
They need to break above the $94.90 & $95.22 resistance levels as they continue to climb.
Consolidated Edison, Inc. ED Stock As A Long-Term Investment
Long-term oriented investors will like ED stock’s valuation metrics, with a 21.61 P/E (ttm), and a 1.63 P/B (mrq).
They recently reported 10.4% Quarterly Revenue Growth Y-o-Y, with 43.7% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a closer examination before making an investment though, with $108M of Total Cash (mrq) & $25.19B of Total Cash (mrq).
ED stock pays a 3.33% dividend yield, which may be unsustainable in the long-run, as their payout ratio is 71.94%.
67.4% of ED stock’s outstanding share float is owned by institutional investors.
Consolidated Edison, Inc. ED Stock As A Short-Term Trade Using Options
Traders who are focused on the short-term can use options to hedge against market volatility, while profiting from price movements in ED stock.
I am looking at the contracts with the 7/15 expiration date.
The $87.50, $90 & $92.50 call options are all in-the-money, listed from highest to lowest open interest levels.
The $97.50, $95 & $100 puts are also in-the-money, listed from most to least liquid strike price.
Tying It All Together
ED stock has many unique characteristics that investors & traders are sure to like.
Investors will like their valuation metrics & dividend yield, but may want to review their balance sheet before making an investment.
Traders will like their current momentum, but may be disappointed in how liquid their options are.
Overall, it is worth taking a closer look at how ED stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF ED STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***