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 16.33% per annum.
- ED price at the close of May 17, 2024 was $97.10 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 0.20% per annum.
- ED price at the close of May 17, 2024 was higher than the top border of the secondary price channel by $0.73 (0.76%).
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: May 6, 2020
End date: June 9, 2023
a = 3.9436
b = 0.0004
s = 0.0626
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 16.33%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0626) – 1
= 28.46%
May 6, 2020 calculations
Top border of price channel:
Exp(Y243)
= Exp(a + b × X243 + 2 × s)
= Exp(a + b × 352 + 2 × s)
= Exp(3.9436 + 0.0004 × 352 + 2 × 0.0626)
= Exp(4.2146)
= $67.67
Bottom border of price channel:
Exp(Y243)
= Exp(a + b × X243 – 2 × s)
= Exp(a + b × 352 – 2 × s)
= Exp(3.9436 + 0.0004 × 352 – 2 × 0.0626)
= Exp(3.9642)
= $52.68
June 9, 2023 calculations
Top border of price channel:
Exp(Y1,022)
= Exp(a + b × X1,022 + 2 × s)
= Exp(a + b × 1,481 + 2 × s)
= Exp(3.9436 + 0.0004 × 1,481 + 2 × 0.0626)
= Exp(4.6825)
= $108.04
Bottom border of price channel:
Exp(Y1,022)
= Exp(a + b × X1,022 – 2 × s)
= Exp(a + b × 1,481 – 2 × s)
= Exp(3.9436 + 0.0004 × 1,481 – 2 × 0.0626)
= Exp(4.4321)
= $84.11
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 16.33% per annum.
- ED price at the close of May 17, 2024 was $97.10 and was inside the primary price channel.
Secondary Trend
Start date: March 24, 2022
End date: April 30, 2024
a = 4.4775
b = 0.0000
s = 0.0405
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 0.20%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0405) – 1
= 17.57%
March 24, 2022 calculations
Top border of price channel:
Exp(Y718)
= Exp(a + b × X718 + 2 × s)
= Exp(a + b × 1,039 + 2 × s)
= Exp(4.4775 + 0.0000 × 1,039 + 2 × 0.0405)
= Exp(4.5640)
= $95.96
Bottom border of price channel:
Exp(Y718)
= Exp(a + b × X718 – 2 × s)
= Exp(a + b × 1,039 – 2 × s)
= Exp(4.4775 + 0.0000 × 1,039 – 2 × 0.0405)
= Exp(4.4021)
= $81.62
April 30, 2024 calculations
Top border of price channel:
Exp(Y1,245)
= Exp(a + b × X1,245 + 2 × s)
= Exp(a + b × 1,807 + 2 × s)
= Exp(4.4775 + 0.0000 × 1,807 + 2 × 0.0405)
= Exp(4.5681)
= $96.36
Bottom border of price channel:
Exp(Y1,245)
= Exp(a + b × X1,245 – 2 × s)
= Exp(a + b × 1,807 – 2 × s)
= Exp(4.4775 + 0.0000 × 1,807 – 2 × 0.0405)
= Exp(4.4062)
= $81.96
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 0.20% per annum.
- ED price at the close of May 17, 2024 was higher than the top border of the secondary price channel by $0.73 (0.76%).