Consolidated Edison Inc.NYSE
Thu, Nov. 3, 5:54 PM
Wed, Nov. 2, 5:35 PM
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Wed, Oct. 26, 1:22 PM
- Nuclear power will come to an end in the U.S. if the industry fails to obtain more government support, Carlyle Group predicts.
- U.S. nuclear reactors need more subsidies to keep running, such as a federal carbon tax that would reward them for their zero-emissions power, according to Bob Mancini, co-head of Carlyle's power unit.
- Mancini points to measures approved in New York as an example of the kind of help nuclear power plant owners will need to survive; in August, NY state regulators cleared ~$500M/year in subsidies as part of a clean energy plan to reduce greenhouse gas emissions.
- Relevant tickers include EXC, ETR, DUK, D, NEE, SO, PCG, ED, EIX, AEP, PPL, DTE, FE, NRG, PNM, POR, SCG, WR, XEL, LNT, GE, URA, NLR
Thu, Oct. 20, 4:36 PM
Wed, Oct. 5, 7:05 PM
- Utilities shares (NYSEARCA:XLU) fell today for the ninth straight session, marking their longest losing streak since 2002 and deepening the recent slide in income producing investments as investors warily watch central banks and interest rates.
- The S&P Utilities sector has dropped 7.5% in the nine days, including a 0.3% fall today, trimming its YTD gain to 8.9%; during the period, AES -10%, EXC -8.8%, PPL -8.8%, PCG -8.2%, ED -8%, EIX -7.6%, SO -7.4%, NEE -7.4%, SRE -7.1%, AEP -6.8%, D -6.7%, DUK -6.5%.
- “Trees don’t grow to the sky,” says Fred Alger's Management's Brad Neuman, “It was almost like the market was waiting for an excuse” to send high-yielding stocks back toward their historical valuations, adding that such stocks could have further to fall.
- Even after the recent decline in share prices, utilities had a 12-month trailing P/E ratio of 21.4 as of Tuesday, vs. 19.8 for the S&P; at the beginning of the year, utilities had a lower ratio than the broader market.
Wed, Sep. 14, 12:57 PM
- Consolidated Edison (ED +1.2%) is upgraded to Buy from Hold with an $82 price target, raised from $80, at Jefferies, which believes ED will announce the details of a previously announced rate settlement based on a 9% return on equity.
- Jefferies says investors had been concerned about a lower than 9% ROE, but given the recent settlement for Brooklyn Union Gas at 9%, it sees little risk of an ROE at that rate.
- The firm thinks the delay in the announcement could be because this is the first rate proceeding for CECONY since the Reforming the Energy Vision.
Thu, Aug. 4, 5:11 PM
Wed, Aug. 3, 5:35 PM
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Tue, Aug. 2, 7:06 AM
- July monthly performance was: +2.28%
- 52-week performance vs. the S&P 500 is: +7%
- No dividends were paid in July
- Top 10 Holdings as of 6/30/2016: McCormick & Co Inc Non-Voting (MKC): 2.25805%, Cincinnati Financial Corp (CINF): 2.25221%, AT&T Inc (T): 2.2047%, C.R. Bard Inc (BCR): 2.20417%, Clorox Co (CLX): 2.19531%, Consolidated Edison Inc (ED): 2.18289%, Sysco Corp (SYY): 2.15335%, Medtronic PLC (MDT): 2.13378%, Cintas Corp (CTAS): 2.12501%, Kimberly-Clark Corp (KMB): 2.10475%
Wed, Jul. 27, 9:19 AM
- Exelon (NYSE:EXC) subsidiary Constellation agrees to acquire Con Edison Solutions' (NYSE:ED) retail electricity and natural gas business for an unspecified amount.
- EXC says the retail electricity and natural gas business delivered ~14 TWh of electricity and 1 Bcf of natural gas in 2015, and the acquisition will expand its customer base to more than 2.5M residential and business customers.
Thu, Jul. 21, 2:25 PM
Mon, Jun. 27, 7:27 PM
- One of the biggest Brexit beneficiaries is the utilities sector, as the Dow Jones Utility Average and the SPDR Utilities Select Sector ETF both surged to new record highs as Treasury yields tumble to multiyear lows.
- The implied annual dividend yield for the Dow utilities is 3.08% and 3.18% for the utilities ETF, more than double the 10-year Treasury yield.
- J.P. Morgan equity strategists said today that they believe bond yields "are not going anywhere but lower,” and thus remain overweight on the utilities sector.
- At least six Dow utilities components posted record closes: NEE +3.3%, EIX +2.5%, AWK +2.4%, ED +1.9%, AEP +1.8%, PCG +0.8%.
- Among other major utilities in today's trade: SO +1.9%, DUK +1.9%, SCG +1.6%, ETR +1.1%, D +1%, AEE +1%, XEL +0.9%, SRE +0.9%, PEG +0.7%, FE +0.7%, EXC +0.6%.
- ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, PUI, SDP, PSCU
Wed, Jun. 8, 1:40 PM
- Willdan Group (WLDN +7.4%) announced that it has been awarded a new two-and-a-half-year $40.6M contract to implement Consolidated Edison’s (NYSE:ED) Multifamily Energy Efficiency program across the utility’s New York City and Westchester County service area.
- This new program is expected to ramp up throughout Q3 and expands upon Willdan’s existing Small Business Direct Install program with Con Edison.
- Willdan has further broadened its clean energy offerings through the recent acquisition of Genesys Engineering.
Thu, Jun. 2, 7:46 AM
- May monthly performance was: +0.76%
- 52-week performance vs. the S&P 500 is: +7%
- No dividends were paid in May
- Top 10 Holdings as of 4/30/2016: Consolidated Edison Inc (ED): 2.09%, Leggett & Platt Inc (LEG): 2.07%, S&P Global Inc (SPGI): 2.07%, Brown-Forman Corp Class B (BF.B): 2.07%, Colgate-Palmolive Co (CL): 2.06%, C.R. Bard Inc (BCR): 2.05%, Hormel Foods Corp (HRL): 2.05%, W.W. Grainger Inc (GWW): 2.05%, Clorox Co (CLX): 2.05%, McCormick & Co Inc Non-Voting (MKC): 2.05%
Mon, May 9, 4:50 PM
- Consolidated Edison (NYSE:ED) -1.7% AH after announcing a public offering of 8.8M common shares, with an underwriters option to purchase up to an additional 1.32M units.
- ED says it plans to use the proceeds for general corporate purposes, including repayment of outstanding short-term debt and then to fund the purchase by an ED subsidiary of an equity interest in a gas pipeline and storage joint venture with available cash and the proceeds from the issuance of additional short-term debt.
Fri, May 6, 12:21 AM
- Consolidated Edison (NYSE:ED): Q1 EPS of $1.18 misses by $0.03.