Consolidated Edison (NYSE:ED) is one of my favorite utility stocks. I've been largely out of the Utility sector for awhile now since prices generally rose above what I considered fair value. However, over the past few weeks, ED stock has fallen from $63 to around $57. The roughly 9 percent pullback has brought the price (and the yield) into my investment range.
In this article, I will describe the business and why I like it, outline my thesis for owning Con Ed stock, review the basic fundamentals / valuation, and supplement the analysis with a brief look at the long-term charts.
What is Con Ed's Business and Why Do I Think That's Important?
I begin with a brief...
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