A number of key events unfolded relating to
Consolidated Edison (ED). These include proposals of a
double-digit hike in New York City's utility rates due to climbing energy costs and
numerous acquisitions of the company's stock by financial firms such as R Squared Ltd, Smith Group Asset Management LLC, and Forsta ASFonden. The company has also announced its executive attendance at future financial conferences and an offering of common shares alongside a
rising streak of dividends. Amidst these developments, the company's stock struggled to outperform its competitors, with shares alternating between dips and rises. Despite this, the company observed an
overall 5% rise in stock, earning the attention of analysts. Consolidated Edison Inc. also received a
pessimistic forecast by Barclays following a high of customer complaints due to freezing temperatures. The company's price target further dropped from $99 to $92. In response, the Company launched initiatives such as bulk energy storage projects and Clean Energy Future webcast. There have been
calls for investigation into its pricing procedures alongside complaints about high customer bills. The company insists on its
proactive planning by proposing new rate plans and announcing a third-quarter profit surpassing estimates.
Consolidated Edison ED News Analytics from Tue, 23 Apr 2024 07:00:00 GMT to Sat, 01 Feb 2025 20:25:00 GMT -
Rating -5
- Innovation 2
- Information 8
- Rumor -6
