Consolidated Edison Inc (ED)
Consolidated Edison, Inc., commonly known as Con Edison (stylized as conEdison) or ConEd, is one of the largest investor-owned energy companies in the United States, with approximately $12 billion in annual revenues as of 2017, and over $48 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 0.04% per annum.
- ED price at the close of July 25, 2024 was $95.92 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 8.52% per annum.
- ED price at the close of July 25, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of ED price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 25, 2022
End date: April 23, 2024
a = 4.4831
b = 0.0000
s = 0.0404
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 0.04%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0404) – 1
= 17.54%
March 25, 2022 calculations
Top border of price channel:
Exp(Y672)
= Exp(a + b × X672 + 2 × s)
= Exp(a + b × 973 + 2 × s)
= Exp(4.4831 + 0.0000 × 973 + 2 × 0.0404)
= Exp(4.5651)
= $96.07
Bottom border of price channel:
Exp(Y672)
= Exp(a + b × X672 – 2 × s)
= Exp(a + b × 973 – 2 × s)
= Exp(4.4831 + 0.0000 × 973 – 2 × 0.0404)
= Exp(4.4035)
= $81.73
April 23, 2024 calculations
Top border of price channel:
Exp(Y1,193)
= Exp(a + b × X1,193 + 2 × s)
= Exp(a + b × 1,733 + 2 × s)
= Exp(4.4831 + 0.0000 × 1,733 + 2 × 0.0404)
= Exp(4.5660)
= $96.16
Bottom border of price channel:
Exp(Y1,193)
= Exp(a + b × X1,193 – 2 × s)
= Exp(a + b × 1,733 – 2 × s)
= Exp(4.4831 + 0.0000 × 1,733 – 2 × 0.0404)
= Exp(4.4044)
= $81.81
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 0.04% per annum.
- ED price at the close of July 25, 2024 was $95.92 and was inside the primary price channel.
Secondary Trend
Start date: August 3, 2023
End date: July 25, 2024
a = 4.1209
b = 0.0002
s = 0.0263
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 8.52%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0263) – 1
= 11.11%
August 3, 2023 calculations
Top border of price channel:
Exp(Y1,012)
= Exp(a + b × X1,012 + 2 × s)
= Exp(a + b × 1,469 + 2 × s)
= Exp(4.1209 + 0.0002 × 1,469 + 2 × 0.0263)
= Exp(4.5027)
= $90.26
Bottom border of price channel:
Exp(Y1,012)
= Exp(a + b × X1,012 – 2 × s)
= Exp(a + b × 1,469 – 2 × s)
= Exp(4.1209 + 0.0002 × 1,469 – 2 × 0.0263)
= Exp(4.3973)
= $81.23
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.1209 + 0.0002 × 1,826 + 2 × 0.0263)
= Exp(4.5826)
= $97.77
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.1209 + 0.0002 × 1,826 – 2 × 0.0263)
= Exp(4.4772)
= $87.99
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 8.52% per annum.
- ED price at the close of July 25, 2024 was inside the secondary price channel.