Consolidated Edison Inc Stock Price, News & Analysis

Con Edison has initiated a project utilizing five electric school buses to supply power to its grid, marking a first in New York State. These e-buses, operated by Lion Electric, can discharge 50 kilowatts collectively, contributing to cleaner air by replacing diesel buses. The project aims to evaluate the potential of e-buses for enhancing air quality and grid reliability. With approximately 1,000 school buses in Westchester and 8,000 in NYC potentially converting to electric, this initiative could significantly impact energy management during peak demand periods while exploring battery longevity effects.

On December 1, 2020, Consolidated Edison (NYSE: ED) announced a public offering of 7,200,000 common shares through BofA Securities. The shares are expected to be issued on December 4, 2020, subject to closing conditions. The net proceeds will be utilized to repay a portion of existing term loans. This offering is made under an effective shelf registration statement filed with the SEC, with details available on the SEC's website.

Con Edison reported a net income of $493 million or $1.47 per share for Q3 2020, up from $473 million or $1.42 per share a year earlier. Adjusted earnings were $495 million or $1.48 per share, down from $513 million or $1.54 in Q3 2019. For the first nine months, net income totaled $1,058 million or $3.17 per share, slightly up from $1,048 million or $3.20 in 2019. The adjusted EPS forecast for 2020 is $4.15 to $4.30, revised due to COVID-19 impacts.

Consolidated Edison, Inc. (ED) announced a quarterly dividend of 76.5 cents per share on its common stock, payable on December 15, 2020, for stockholders recorded by November 18, 2020. Con Edison, a major investor-owned energy-delivery company, generates approximately $13 billion in annual revenues with assets totaling $59 billion. The company operates through several subsidiaries, offering electric, gas, and steam services primarily in New York.

Consolidated Edison, Inc. (NYSE: ED) is set to announce its 3rd Quarter 2020 earnings on November 5, 2020, after market closure. The company, a major player in the energy sector, generates approximately $13 billion in annual revenues and holds $59 billion in assets. Con Edison provides essential electric, gas, and steam services in New York City and surrounding areas, and engages in renewable energy projects through its subsidiaries.

Con Edison is set to install 376,000 smart natural gas detectors across New York City and Westchester County by 2025, as part of a $130 million initiative. This follows a successful pilot involving 9,000 detectors, which recorded 250 alarms since October 2018. The detectors enhance safety by alerting customers to gas leaks and notifying emergency responders. Each installation is free and takes less than an hour, without needing to turn off gas service. The devices have varying lifespans, with the latest models lasting up to 10 years.

Consolidated Edison, Inc. (NYSE:ED) has appointed Tim Cawley as president and CEO, effective January 1, 2021. Cawley, who has been with the company since 1987, will succeed John McAvoy, who is retiring after 40 years but will continue as chairman. The Board praised McAvoy's leadership during transformative times in the energy sector. Also, Matt Ketschke will become president of Consolidated Edison Company of New York at the same time. Con Edison is a major energy provider with approximately $13 billion in revenues and $59 billion in assets.