Investigations into
Consolidated Edison's pricing have been called following a recent report by Congressman Ritchie Torres. The company reportedly charges 100% more for gas delivery than its competitor, National Grid. Regardless, the company holds a strong institutional backing, with a 68% ownership being attributed to these institutions. Other notable factors include the declaration of a
common stock dividend, recent Q2 earnings surpassing estimates, and 41% increase in value for those who invested three years ago. Several controversies surrounding their labor practices have also been expressed by contract workers demanding family-sustaining jobs. A significant leadership transition has transpired within the company, and various earnings have been reported for quarters in 2023 and 2024. The company's
debt load has been highly criticized, and the enactment of a new program providing customers with new appliances is also recognized.
Con Edison's strategic decisions and
investment of $20B in climate resiliency through 2028 are pivotal factors moving forward. Despite criticisms, the company has announced projects aimed at transitioning to clean energy.
Consolidated Edison ED News Analytics from Thu, 19 Oct 2023 07:00:00 GMT to Mon, 19 Aug 2024 00:10:26 GMT -
Rating 4
- Innovation 2
- Information 6
- Rumor -2
