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New: Introducing “Why Is It Moving?” - lightning-fast, AI-driven explanations of stock moves
Consolidated Edison, Inc. (NYSE:ED) is included among the Top 15 Growth Stocks for Long-Term Investors.
Consolidated Edison, Inc. (NYSE:ED) provides electricity, gas, and steam services to customers across the New York City region. The company supplies power to around 3.7 million electric and 1.1 million gas customers, while also operating the largest steam system in the United States.
Analysts expect Consolidated Edison, Inc. (NYSE:ED) to deliver consistent earnings growth over the coming years, supported by new customer additions and regular rate increases, alongside the steady recovery of the US economy. Its main growth drivers remain customer expansion and regulated rate hikes. Operating in a regulated sector gives ConEd the advantage of being able to periodically adjust its rates, ensuring stable and predictable revenue growth. The company projects an average annual rate base increase of more than 8% through 2029, which should translate into steady earnings improvement. However, rising interest rates pose a potential risk, as they can raise borrowing costs for debt-heavy utilities.
Despite such challenges, Consolidated Edison, Inc. (NYSE:ED) stability and consistent performance have strongly supported its dividend growth over the years. The company has never missed a dividend since 1885 and has raised its payouts for 51 years in a row. It currently offers a quarterly dividend of $0.85 per share and has a dividend yield of 3.32%, as recorded on October 12.
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.
READ NEXT: 12 Most Promising Dividend Stocks According to Wall Street Analysts and 14 Best Food Dividend Stocks To Buy According to Analysts.
Disclosure: None.
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