All you ED bulls shouting BUY BUY BUY are you aware of the explosion 2 weeks ago that CON ED is at least partially responsible for and will take years and billions to correct. If your going to BUY BUY BUY have a 5 year
time horizon and pray they dont cut the dividend.
Even if NYS wants ED to increase the current rate of gas main replacements, there is only beneficial to the company's bottom line. The customers pay for improvements to the system (replacement and new business work over 10" I think is considered to be capital work) and the value of the work goes into the rate base, where the company gets a guaranteed rate of return. The NYS PSC approves the number of miles of gas mains that are to be replaced each year and the number of acceptable leaks per mile, so the state regulators are complicit in the company's managing of the gas system.
Yes, they did cut it once around 1974 when ED was having problems with blackouts and nuke power. The share price fell dramatically, but smart investors scooped up the shares when it was dirt cheap. I was not smart.
Bear in mind that Florida Power and Light cut their div about 20 or so years ago and again the smart ones piled on and bought more Ditto for Duke.
As long as it's not the result of some catastrophic event and fundamental;s are still sound, then buy 'em when they're cheap.