Consolidated Edison, Inc. (ED) Stock Forecasts

Summary

Consolidated Edison serves 3 million electric customers, 1 million gas customers, and 1800 steam customers throughout the New York region. ED provides a wide range of energy-related products and services through the following subsidiaries: Consolidated Edison Co. of New York (CECONY), a regulated utility providing electricity, gas and steam in New York City and Westchester County; Orange and Rockland Utilities, a utility serving customers in southeastern New York State, northern New Jersey, and northeastern Pennsylvania; Con Edison Solutions, a retail energy supply and services company; Con Edison Energy, a wholesale energy supply company; Con Edison Development, which owns and operates generating plants and participates in other infrastructure projects; and Con Ed Transmission, a FERC-regulated electric and natural gas utility. The company employs approximately 15,000 people.

With the 1Q23 sale of Con Edison Clean Energy, Con Ed has become a pure-play regulated utility with over 90% of assets at CECONY.

The company purchases and transports gas from as far away as Canada and the Gulf of Mexico. Currently, electricity accounts for about 70% of annual revenue, and about 50% of electric revenues are from businesses and municipal customers. ED is increasing investment in solar and wind generation, and is targeting net-zero emissions by 2040.