Various updates regarding Consolidated Edison (ED) have emerged recently. There has been a call from both Donald Trump and NYC's new mayor, Mamdani, for the company to lower its rates. This lead to a briefly observed stock depreciation. However, following significant backlash, Consolidated Edison has agreed to diminish proposed rate increases. Various financial analysis and reports indicate that the company's earnings are anticipated to grow, inspiring some to consider it as a valuable long-term investment. The company has also recently announced a $900 million debenture sale and is venturing into the sphere of renewable energy expansion.
The company has also recently beaten Q3 earnings forecasts, despite a moderately lower price target set by Barclays. Complementing these developments, the company’s consistent payouts have also been highlighted, painting it as an attractive option among cheap dividend stocks. It is also reported that the company declared a common stock dividend. Other updates involve the company's new billion dollar substation in Canarsie, expected to power over 50,000 Brooklyn residents. Critics have voiced their dissent over Con Ed's rate hikes and they are opposing strongly.
Consolidated Edison ED News Analytics from Fri, 14 Feb 2025 08:00:00 GMT to Sat, 22 Nov 2025 21:28:53 GMT - Rating 2 - Innovation 0 - Information 8 - Rumor 6
