In recent updates concerning Consolidated Edison, Ameritas Advisory Services and Nisa Investment Advisors have expanded their stakes, while UMB Bank has reduced its holdings. The firm registered a significant increase in short interest, up by 7.3% and posted a record with its 51st consecutive annual dividend boost, rounding off at $3.40 per share. The company has proposed new rate plans for 2025-2027 and its Q3 earnings exceeded analysts' estimates.
Renowned investor Jim Cramer remains bullish on Consolidated Edison. Furthermore, Congressman Ritchie Torres has called for an investigation into the company's pricing. The company faced complaints from contract workers demanding fair compensation and Staten Island customers on account of high bills. On the positive side, the company looks forward to presenting a webcast on their clean energy future and has initiated a bulk energy storage project.
The company received criticism for high gas delivery charges compared to National Grid, and has also been accused of overcharging NYC customers. Even amidst these controversies, institutional ownership sits at 70% indicating the firm's credibility among major investors. Finally, ConEd has major infrastructure investments across New York City and Westchester County worth $2.3 billion.
Consolidated Edison ED News Analytics from Thu, 15 Feb 2024 08:00:00 GMT to Sat, 25 Jan 2025 08:34:34 GMT - Rating 5 - Innovation -2 - Information 7 - Rumor -4
