Thu, Apr. 16, 3:44 PM
Thu, Mar. 26, 3:59 PM
- Con Edison (ED -2.8%) sinks into the close in a move some market watchers attribute to this afternoon's NYC building collapse, as an explosion in Manhattan's East Village reportedly injured ~30 people.
- Officials say the explosion, which occurred near Second Avenue and St. Marks Place, left a storefront blasted out.
Thu, Feb. 19, 5:26 PM
Wed, Feb. 18, 5:35 PM
Thu, Jan. 15, 5:58 PM
Dec. 17, 2014, 6:57 AM
- Previous rating was Hold.
- Price target remains $60. Implied downside -6.5%.
- Says ED is unlikely to fare well in a rising rate environment, and notes NY regulators are likely to take steps that will be unfavorable for NY utilities.
- Previously: Con Ed cut to Sell at UBS, as earnings pressure could send ROE below 9% (Nov. 19)
Nov. 19, 2014, 11:34 AM
- Consolidated Edison (ED -1.2%) is downgraded to Sell from Neutral with a $49 price target at UBS following recent outperformance with shares experiencing the strongest positive volatility since 2008 despite a lack of positive catalysts.
- The firm believes the return on equity risk at CECoNY and Orange and Rockwood Utilities tips the scale negatively and deserves a discounted multiple.
- The potential near-term pressure on earnings power could move ED's return on equity below 9%, UBS says.
Nov. 6, 2014, 5:33 PM| Comment!
Nov. 5, 2014, 5:35 PM
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Oct. 16, 2014, 2:25 PM
Oct. 14, 2014, 11:32 AM
- While much of the stock market has been tanking, Duke Energy (DUK +2.8%) and Consolidated Edsion (ED +3.2%) are hitting 52-week highs and continue to rally today even as the rest of the market tries to recover.
- Investors are betting on a continued turnaround and redirection that will drive DUK and ED earnings and dividends higher than expected, 24/7's Jon Ogg writes.
Aug. 8, 2014, 8:58 AM
- Consolidated Edison (NYSE:ED) says its Q2 earnings rose 23% Y/Y as it recorded a gain on the sale of solar energy projects.
- Q2 operating revenue rose 3% Y/Y to $2.91B, with revenue from the electric business, which is ED's largest top-line generator, climbing 6% and revenue from its gas segment rising 8%; revenue at the steam segment fell 17% and non-utility revenue fell 10%.
- ED, which serves the NYC metro area, had suggested possible liabilities from pending lawsuits stemming from a fatal March 12 explosion in Manhattan; the company said it couldn't estimate the range of its possible liability but as of June 30, it hadn't accrued any liability for the incident.
- Guides FY 2014 earnings from ongoing operations of $3.70-$3.85/share vs. its earlier forecast of $3.65-$3.85.
Aug. 7, 2014, 6:09 PM| 1 Comment
Aug. 6, 2014, 5:35 PM
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Jul. 17, 2014, 3:09 PM
May. 16, 2014, 5:03 AM
- The White House is considering forcing power plants to cut carbon emissions by 25% over a 15-year period, Bloomberg reports.
- The problem is that owners can only cut so much of a facility's emissions by increasing efficiency, so a lot of the reduction could have to come by "going outside the fence," such as by deepening the use of renewable energy, improving grid efficiency and encouraging customers to use less electricity.
- Trying to compel operators to rely on such external measures could run afoul of what the government is allowed to do under the Clean Air Act.
- ETFs: KOL, XLU, IDU, VPU, RYU, PUI, UPW, FXU, SDP, PSCU, FUTY, UTLT
- Coal Tickers: PCXCQ, BTU, WLT, CNX, ACI, ANR, JRCC, YZC, ARLP, AHGP, NRP, PVR, PVG, PVA, OXF, CLD, WLB, RNO
- Utilities: ED, POM, PEG, FE, NST, UTL, ETR, EXC, D, NU, PCG, DUK
ED vs. ETF Alternatives
Consolidated Edison Inc, through its subsidiaries, provides regulated electric and gas delivery, electricity to retail customers, energy-related products and services, and develops, owns and operates renewable and energy infrastructure projects.
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