There are numerous developments surrounding Consolidated Edison (ED). The utility company is expected to continue recording earnings growth with the new billion-dollar substation in Canarsie poised to power over 50,000 residents in Brooklyn. The declared common stock dividend, initiated coverage by Wells Fargo with equal weight rating, and confirmation of a 85¢ quarterly dividend further reinforces the company's financial stability.
However, the company has faced substantial opposition regarding recent attempts to increase rates with outraged residents expressing discontent. Furthermore, Con Edison's failure to grow its returns and accusations of delaying a Long Island City park connection arguably pose significant risks. Nevertheless, prospects for long-term momentum, promises of reliable dividends, the overtake of the 200-Day moving average, among other positive financial results offer a counterpoint.
Barclays' lowered price targets and the Q1 earnings missing estimates have highlighted some challenges. Despite the bumps along the way, the company's successful public offering of common shares and reports of beating Q2 expectations finally present a generally balanced outlook for ED's prospects.
Consolidated Edison ED News Analytics from Thu, 06 Feb 2025 08:00:00 GMT to Sat, 01 Nov 2025 07:59:26 GMT - Rating 3 - Innovation -4 - Information 7 - Rumor -2
