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Consolidated Edison, Inc. (NYSE:ED) is included among the 13 Most Undervalued Dividend Stocks to Buy According to Wall Street Analysts.
Consolidated Edison, Inc. (NYSE:ED) is a utility company that delivers electricity, gas, and steam to customers across the New York City area. It serves approximately 3.7 million electric and 1.1 million gas customers and operates the largest steam system in the United States.
On October 27, Wells Fargo analyst Shahriar Pourreza began coverage of Consolidated Edison, Inc. (NYSE:ED) with an Equal Weight rating and a $99 price target. The firm initiated coverage on the broader power and utilities sector with 19 Overweights and 14 Equal Weights. The firm noted a preference for companies with growth prospects “actually driving earnings higher” or those trading at valuations “not necessarily reflecting fundamentals.”
Wells Fargo added that utilities are “materially undervalued” amid a “perfect storm of tailwinds” that is “much more structural in nature than cyclical.”
On October 16, Consolidated Edison, Inc. (NYSE:ED) announced a quarterly dividend of $0.85 per share, consistent with its previous payout. The company has now increased its dividend for 51 consecutive years. The stock supports a dividend yield of 3.51%, as of October 29.
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: 10 Best Dividend Stocks Under $10 to Invest in and 11 Best FTSE Dividend Stocks to Buy Right Now
Disclosure: None.
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