Consolidated Edison, with a significant 70% institutional ownership, has outperformed its competitors in recent trading days, despite some shares being recently sold by
AMF Tjanstepension AB. The utility company has been identified as one to rely on for
strong dividends, but is under scrutiny for underperforming in the utilities sector. Even with increased purchases by
The Manufacturers Life Insurance Company, market analysts recommend 'reducing' the stocks.
Consolidated Edison has reported its first-quarter earnings for 2024 and has announced a common stock dividend. In spite of projected decline in Q2 earnings, both their Q2 and Q1 earnings surpassed estimates, backed by the bullish stance of
Jim Cramer. However, concerns about potential overpricing of its services and questionable employee treatment, coupled with the company's
debt load, contribute to its perceived overvaluation. Measures to face climate change and customer dissatisfaction over rate hikes are among the major challenges for Consolidated Edison.
Barclays has downgraded the stock due to overvaluation, triggering an investigation into its pricing policies. Despite the negative circumstances, investors have seen decent returns over the last three years, thus remaining optimistic about Consolidated Edison's future.
Consolidated Edison ED News Analytics from Thu, 02 Nov 2023 07:00:00 GMT to Thu, 03 Oct 2024 12:46:19 GMT -
Rating 4
- Innovation 3
- Information 8
- Rumor -3
