Consolidated Edison Inc., often known as Con Edison or Con Ed, has recently experienced various market movements. Con Ed's performance has been somewhat mixed compared to its competitors, with strong trading days as well as instances of underperforming. The company, widely recognized for its consistent dividend yield has been identified as an ideal 'safe' dividend stock, with a yield of 3.4%. A new price target of $97.00 has been set at Barclays. Q1 earnings and revenues have surpassed estimates, despite a reported slowing rate of return leaving little room for excitement. Nevertheless, over the last three years, investors showed a substantial return—41% and 26% suggesting favorable long-term investment. Company's capital returns have met a standstill recently. Strengthened by institutional ownership, the company shares are approximately 68% controlled by institutional entities, while some recent gains are also noted. Con Edison has also shown its keen interest in green energy, focusing on staff training for the clean energy workforce and proposing offshore wind projects. Yet, recent occurrences, such as the impact of a price hike, a power outage in NYC, and a steam line blast, could affect the overall market sentiment towards the company.
Consolidated Edison ED News Analytics from Mon, 05 Jun 2023 07:00:00 GMT to Thu, 09 May 2024 21:00:00 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -3
