Consolidated Edison is a good company, a near-dividend King with a 46-year growth history and excellent fundamentals. While risks exist in the company at this stage, and investors should at the very least consider where they view the company and New York, I view this push down as an overreaction by the market.
Consolidated Edison (NYSE:ED) pays its investors well. The utility's current dividend yields 3.4%, well above the roughly 2% average of stocks in the S&P 500. However, having an above-average yield alone doesn't automatically make it a great dividend payer.
What does Consolidated Edison Inc do?
The Con Edison Clean Energy Businesses, Inc. segment develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers.
Why is coned stock dropping?
'ED has favorable ESG factors. But these are mitigated by the gas utility and development of fossil pipelines,' Bank of America says.
Is Con Ed stock a good buy?
Valuation metrics show that Consolidated Edison Inc may be fairly valued. Its Value Score of C indicates it would be a neutral pick for value investors. The financial health and growth prospects of ED, demonstrate its potential to perform inline with the market. It currently has a Growth Score of F.
Is Con Edison a buy?
Consolidated Edison has received a consensus rating of Sell. The company's average rating score is 1.33, and is based on no buy ratings, 3 hold ratings, and 6 sell ratings.
Is coned reducing power?
To help keep electric power flowing reliably during a record-breaking heat wave, Con Edison reduced electric voltage today by five percent system-wide. The Con Edison electric system remains stable and the power supply adequate, despite record demand.
Is Con Edison a Fortune 500 company?
RANK249. One of the world's largest energy delivery systems, ConEdison supplies clean energy, electric power, gas, and steam to its customers.