Consolidated Edison (ED) has emerged as one of the top picks for electric utility stocks due to its steady dividend payouts, making it attractive among cheap dividend stocks. However, Morgan Stanley has reduced the price target for ED, maintaining a Sell Rating. Meanwhile, ED has commenced its clean energy strategy and also declared common stock dividend along with a public offering of common shares boosting its financial robustness. Despite occasional misses, ED’s earnings generally exceed estimates, with revenue also on the rise year-over-year. On the downside, ED's rate hike proposal has faced severe criticism from officials and public alike, causing potential threats to its New York's climate goals. Instances of workplace harassment and reported service shutdowns amid bill collection efforts have marred its reputation. However, strong growth and future potential were reflected in its all-time high stock price of $107.8, despite suggestions of it being undervalued. Notably, ED is investing in major projects to enhance reliability, particularly in densely-populated regions of New York. The company is also strengthening its board, making strides in the telecom sector. Nonetheless, its proposed double-digit rate hikes have been met with significant opposition.
Consolidated Edison ED News Analytics from Tue, 03 Dec 2024 08:00:00 GMT to Sat, 27 Sep 2025 19:50:34 GMT -
Rating -2
- Innovation 4
- Information 8
- Rumor -5
