Consolidated Edison (ED), the $71B utility giant, disclosed the details of its multiple investor conferences while facing a downgrading to 'Underweight' by KeyBanc. The downgrade and a price target reduction by Mizuho followed ED's Q1 earnings lagging estimates. ED declared its dividends while announcing a 6.3M share offering but saw its stock drop by 3.05% on May 12. The utility powerhouse is also facing fiery pushbacks from New Yorkers on its double-digit rate hike proposal, with rallies and oppositions mounting against the proposed increases. Despite the challenges, ED is among the leading dividend stocks with low PE ratios, heavily dominated by institutional owners. Analyst forecasts saw an uptick following better-than-expected results, but Barclays and Guggenheim adjusted the price target despite Underweight ratings. With initiatives towards energy reliability and storage projects, the company intends to reshape energy markets, through its planned $72B investments. However, with NY officials demanding accountability for high utility costs, whether Consolidated Edison will retain its stronghold as a dividend aristocrat or buckle under regulatory pressures remains to be seen.
Consolidated Edison ED News Analytics from Thu, 01 Aug 2024 07:00:00 GMT to Fri, 16 May 2025 13:36:39 GMT -
Rating -1
- Innovation -5
- Information 5
- Rumor -3
