Consolidated Edison (ED) is facing significant scrutiny due to its proposed
rate hikes. Both customers and lawmakers are protesting against the increase, urging the legislature to pass the
NY HEAT Act to protect residents from excessive bills. Despite this pushback, the utility plans to boost its
investment to achieve higher returns. Nevertheless, the company still managed to increase its
dividend payout for the 51st consecutive year. On the other hand, due to various factors like valuation hurdles, its stock performance compared to the utility sector is being questioned by analysts. Additionally, the company plans to launch a
7M share public offering aimed at driving subsidiary growth. In terms of future initiatives, the company is looking towards a
clean energy future and has proposed double-digit rate hikes to fund clean energy and infrastructure upgrades. Despite protests, the company reported profit surges and optimistic earnings outlook for 2024.
Consolidated Edison ED News Analytics from Thu, 02 May 2024 07:00:00 GMT to Thu, 27 Feb 2025 15:30:00 GMT -
Rating -4
- Innovation 2
- Information 6
- Rumor -2
