Overall activity surrounding Consolidated Edison Inc. (NYSE: ED), especially in institutional investment market, indicates a strong position for the company. The utility company is relatively popular among connoisseurs like AMF Tjanstepension AB, G&S Capital LLC, and Riverview Trust Co, all having reportedly taken up significant positions. The high favor amongst institutions is further supported by stock repurchases worth $1B and the declaration of common stock dividends. Moreover, Investor meetings in Europe are slated, aiming at further market expansion.
On the downside, some analysts suggest exercising caution, hinting at weighed down returns. Several institutional investors and advisers like Gateway Investment Advisors LLC have also reportedly trimmed their holdings. The company's earnings surpassing estimates only seems to offset the effect of previous losses causing a -6.18% loss in 4 weeks. Further impacting the company's prospects is the likely energy disaster, with rumors of workforce threatening to strike amid NYC heat wave. Yet, a silver lining appears as ED is identified as a solid choice for income investors with promising ROE compared to the Industry.
Consolidated Edison ED News Analytics from Thu, 07 Sep 2023 07:00:00 GMT to Sun, 30 Jun 2024 11:00:23 GMT - Rating 6 - Innovation 4 - Information 7 - Rumor -4
