AllAnalyst Report
logoArgusFebruary 27, 2024

Consolidated Edison, Inc.: Reaffirming BUY after dividend raised for fiftieth consecutive year

Symbols
ED
Sector(s)
Utilities
Rating
Current Price
$92.93
Price Target
Earnings Estimate
Summary

Consolidated Edison serves 3 million electric customers, 1.1 million gas customers, and 1800 steam customers throughout the New York region. ED provides a wide range of energy-related products and services through the following subsidiaries: Consolidated Edison Co. of New York (CECONY), a regulated utility providing electricity, gas and steam in New York City and Westchester County; Orange and Rockland Utilities, a utility serving customers in southeastern New York State, northern New Jersey, and northeastern Pennsylvania; Con Edison Solutions, a retail energy supply and services company; Con Edison Energy, a wholesale energy supply company; Con Edison Development, which owns and operates generating plants and participates in other infrastructure projects; and Con Ed Transmission, a FERC-regulated electric and natural gas utility. The company employs approximately 15,000 people. With the sale of Con Edison Clean Energy Businesses, Con Ed has become a pure-play regulated utility with over 90% of assets at CECONY, which also accounts for 92% of total revenues. The company has little generating power exc

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