- StockStory Top Pick ARES +1.49%
- ED +0.22%
Consolidated Edison, Inc. (NYSE:ED) is included among the 15 Best Boring Dividend Stocks to Buy.
Morgan Stanley Updates Consolidated Edison (ED) Price Target Amid Sector Headwinds On November 20, Morgan Stanley lowered its price target on Consolidated Edison, Inc. (NYSE:ED) to $93 from $97 while maintaining an Underweight rating on the stock, as reported by The Fly.
The company recently announced that one of its subsidiaries (the “Con Edison Seller”) has agreed to sell its roughly 6.6% stake in the Mountain Valley Pipeline (MVP) to an Ares Management fund (ARES) for $357.5 million. The deal is expected to close in the first half of 2026, subject to customary closing conditions and the potential exercise of certain preferential rights held by the MVP founding members.
Consolidated Edison, Inc. (NYSE:ED) plans to use the proceeds from the sale to partially cover its common equity needs for 2026 and for general corporate purposes.
Consolidated Edison, Inc. (NYSE:ED)’s utility operations provide a highly stable cash flow that supports its dividend. The company has increased its dividend for 51 consecutive years, the longest streak of any utility in the S&P 500.
Consolidated Edison, Inc. (NYSE:ED) supplies electricity, gas, and steam to customers in the New York City area.
While we acknowledge the potential of ED as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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