Consolidated Edison (ED), a utility company, is being acknowledged as a solid choice for income investors. With its stock price fluctuating, it is attracting the attention of various companies. For instance,
Gulf International Bank UK Ltd and
Nomura Holdings Inc. have increased their stakes in ED. Moreover,
Massmutual Trust Co. FSB ADV and
GAMMA Investing LLC have bought shares of the company. There is a strong appeal for Consolidated Edison as indicated by institutional owners who hold 68% of the shares. Given its financial strength, the company was able to increase dividends. Nevertheless, analysts have encouraged caution regarding the company due to return rates that appear to be slowing down and earnings that need improvement. Leadership transitions have been announced with
Robert Hoglund’s retirement and
Kirkland Andrews' appointment to succeed him. On the operational front, potential strike threats loomed from utility workers though a deal was eventually reached averting such. Billing issues have also impacted Con Edison’s customers. Meanwhile, the company’s commitment to clean energy was recognized via regulatory approval of a $1.2 billion city project and grants for clean energy workforce training.
Consolidated Edison ED News Analytics from Fri, 21 Jul 2023 07:00:00 GMT to Sun, 23 Jun 2024 21:19:00 GMT -
Rating 5
- Innovation -2
- Information 6
- Rumor -4
