Consolidated Edison Inc Stock Price, News & Analysis

Consolidated Edison (NYSE: ED) has announced a public offering of 6,300,000 common shares through Barclays. The shares will be offered via the NYSE, over-the-counter market, or through negotiated transactions, with an expected issuance date of March 6, 2025.

The offering is being conducted under Con Edison's effective shelf registration with the SEC. The company plans to use the net proceeds to fund capital requirements of its subsidiaries and for general corporate purposes. The shares will be available through Barclays Capital Inc., with detailed information accessible via the SEC's website and through Barclays' prospectus distribution channels.

Consolidated Edison (NYSE: ED) reported 2024 net income of $1,820 million ($5.26 per share), compared to $2,519 million ($7.25 per share) in 2023. Adjusted earnings reached $1,868 million ($5.40 per share) in 2024, up from $1,762 million ($5.07 per share) in 2023.

For Q4 2024, net income was $310 million ($0.90 per share), versus $335 million ($0.97 per share) in Q4 2023. The company projects 2025 adjusted earnings per share between $5.50 and $5.70, with a five-year compound annual growth rate of 6-7%.

Con Edison plans significant capital investments: $5,122 million in 2025, $8,067 million in 2026, and $24,469 million for 2027-2029. To fund these investments, the company plans to issue up to $1,750 million in long-term debt in 2025, $3,800 million in 2026, and approximately $9,100 million during 2027-2029. Additionally, Con Edison plans equity issuances of $1,350 million in 2025, $1,850 million in 2026, and up to $4,300 million during 2027-2029.

Con Edison (NYSE: ED) has announced it will release its 2024 earnings report on February 20, 2025 after market close. The company, one of the nation's largest investor-owned energy-delivery companies, reported $15 billion in annual revenues for 2023 and holds $69 billion in assets as of September 30, 2024.

The company operates through several subsidiaries: Consolidated Edison Company of New York (providing electric, gas, and steam services in NYC and Westchester), Orange and Rockland Utilities (serving southeastern NY State and northern NJ), and Con Edison Transmission (managing electric and gas assets while developing renewable electricity transmission projects in the Northeast).

Consolidated Edison (NYSE: ED) has declared a quarterly dividend of 85 cents per share on its common stock, payable March 14, 2025, to stockholders of record as of February 19, 2025. This represents an annualized increase of 8 cents over the previous annualized dividend of $3.32 per share.

The announcement marks Con Edison's 51st consecutive annual dividend increase, maintaining its record for the longest streak of consecutive annual dividend increases among utilities in the S&P 500 index. The company maintains its target dividend payout ratio between 55% and 65% of adjusted earnings.

Con Edison (NYSE: ED) has announced that its executives will participate in investor conferences in January 2025. The company has made its investor presentation available on their website under the Presentations & Webcasts section.

As one of the nation's largest investor-owned energy-delivery companies, Con Edison reported approximately $15 billion in annual revenues for year-end 2023 and $69 billion in assets as of September 30, 2024. The company operates through several key subsidiaries:

• Consolidated Edison Company of New York - providing regulated electric service in NYC and Westchester County, gas service in Manhattan, Bronx, parts of Queens and Westchester, and steam service in Manhattan
• Orange and Rockland Utilities - serving a 1,300-square-mile area in southeastern New York State and northern New Jersey
• Con Edison Transmission - managing electric and gas assets through joint ventures and developing renewable electricity transmission projects in the Northeast

Con Edison (NYSE: ED) has announced a public offering of 7,000,000 common shares through a forward sale agreement with J.P. Morgan Securities Under this agreement, Con Edison expects to receive cash proceeds upon physical settlement, which is anticipated by December 31, 2025. The company plans to use the proceeds to invest in its subsidiaries' capital requirements and for general corporate purposes.

The forward counterparty will borrow and sell shares to J.P. Morgan Securities, which will offer them through various market channels. Con Edison maintains flexibility to elect cash settlement or net share settlement instead of physical settlement. The company won't receive immediate proceeds from the initial sale but may receive proceeds if required to issue any top-up shares.

Con Edison (NYSE: ED) reported third quarter 2024 net income of $588 million ($1.70 per share), up from $526 million ($1.53 per share) in Q3 2023. Adjusted earnings were $583 million ($1.68 per share) compared to $561 million ($1.62 per share) in the prior year period.

For the first nine months of 2024, net income reached $1,510 million ($4.37 per share). The company narrowed and revised its 2024 adjusted EPS guidance to $5.30-$5.40 per share, focusing on the upper half of its original range, reflecting solid third quarter results and year-to-date performance.

Con Edison (NYSE: ED) has announced it will release its 3rd Quarter 2024 earnings report on November 7, 2024, after market close. The company, one of the nation's largest investor-owned energy-delivery companies, reported $15 billion in annual revenues for 2023 and holds $68 billion in assets as of June 30, 2024. Con Edison operates through several subsidiaries, providing electric, gas, and steam services across New York City, Westchester County, southeastern New York State, and northern New Jersey, while also managing transmission assets through Con Edison Transmission, Inc.

First Student and Con Edison are launching a revolutionary demonstration project in Brooklyn, featuring a smart energy hub and 12 electric school buses with solar panels. This initiative aims to support the efficient electrification of school buses while addressing economic barriers for medium and heavy-duty fleet electrification.

The project introduces First Charge, an innovative trenchless power deployment solution that reduces construction costs by at least 30%. It also showcases Vehicle-to-Everything (V2X) technology, allowing bus batteries to generate additional power for Con Edison during peak demand or emergencies.

This demonstration aligns with First Student's commitment to transition 30,000 fossil-fueled school buses to electric by 2035. The company currently has about 2,000 electric school buses under contract across the U.S. and over 360 EVs deployed.