Consolidated Edison Inc Stock Price, News & Analysis

Con Edison has invested $1.5 billion in enhancing its electric-delivery system in New York City and Westchester County. This initiative supports the state's transition to clean energy, including adding energy storage and promoting electric vehicles. The company has installed numerous transformers and cables in preparation for summer demand, projecting a peak electricity demand of 12,880 megawatts. While residential electricity costs may rise by 6.5% in Westchester, New York City customers could see a 4.2% decrease. Con Edison is committed to sustainability through various incentives and tech advancements.

Crestwood Equity Partners LP (NYSE: CEQP) and Consolidated Edison, Inc. (NYSE: ED) announced the sale of Stagecoach Gas Services LLC to Kinder Morgan, Inc. (NYSE: KMI) for $1.225 billion. Proceeds will be split evenly, enhancing Crestwood's financial flexibility and targeting a leverage ratio of 3.50x to 3.75x by year-end 2021. This divestiture involves a significant portion of Stagecoach valued at $1.195 billion and includes vital gas storage and pipeline assets in New York and Pennsylvania, providing substantial throughput and storage capacity.

Consolidated Edison CEO Timothy Cawley will present at the Citi 2021 Global Energy & Utilities Virtual Conference on May 12, 2021, at 8:40 a.m. EDT. A live audio webcast will be available, along with a replay, on the company's investor relations website. Consolidated Edison is a major energy-delivery company with approximately $12 billion in annual revenues and $62 billion in assets, serving customers through various subsidiaries in New York and beyond.

Consolidated Edison, Inc. (NYSE: ED) reported a first-quarter net income of $419 million or $1.23 per share for 2021, compared to $375 million or $1.13 per share in 2020. Adjusted earnings rose to $491 million or $1.44 per share, up from $451 million or $1.35 per share in the previous year. The company reaffirmed its 2021 adjusted earnings per share forecast of $4.15 to $4.35, excluding certain impairments and accounting effects. CEO Timothy P. Cawley emphasized Con Edison's commitment to clean energy investments and reliable service.

On May 3, 2021, a Midtown Manhattan apartment building became the first in the region to install electric vehicle chargers through Con Edison's PowerReady incentive program. The program offers incentives for installing EV chargers to offset upfront costs, with a commitment to provide around 19,000 charging plugs in NYC and Westchester County by the end of 2025. The building's garage features 10 level 2 charging plugs capable of powering vehicles in about six hours. This initiative supports New York's clean energy goals and aims to reduce emissions from transportation for a sustainable future.

Consolidated Edison, Inc. (NYSE: ED) plans to announce its 1st Quarter 2021 earnings on May 6, 2021, after market close. The firm reports annual revenues of approximately $12 billion and manages assets worth $63 billion. Con Edison operates through multiple subsidiaries, providing electric, gas, and steam services in New York City and surrounding areas. Additionally, it is a significant player in the solar energy sector, being the second-largest solar developer in the U.S. with a focus on renewable energy projects.

Con Edison has received the Best Practices Award from the Smart Energy Consumer Collaborative for its innovative use of smart meters in demand response programs. The award highlights how the company's technology helps aggregators enroll residential customers to reduce energy usage during peak demand times, enhancing service reliability. With a minimum enrollment threshold of 10 watts, the program is accessible to many customers. Con Edison, a subsidiary of Consolidated Edison, Inc. (NYSE: ED), serves 3.5 million customers in New York City and Westchester County, generating approximately $12 billion in annual revenues.

CPower Energy Management has been selected by Con Edison and National Grid for their Term-Dynamic Load Management (DLM) Program in New York. This program incentivizes customers to provide load relief with significant notice, offering fixed pricing for three to five years. Established by the New York Public Service Commission in September 2020, the initiative supports New York's clean energy goals, including 1,500 MW of energy storage by 2025 and 70% electricity from renewables by 2030. CPower aims to enhance energy flexibility and reliability while fostering investment in clean energy technologies.

Consolidated Edison, Inc. (NYSE: ED) has declared a quarterly dividend of 77.5 cents per share on common stock. This dividend is payable on June 15, 2021 to shareholders of record as of May 19, 2021. With approximately $12 billion in annual revenues and $63 billion in assets, Con Edison is one of the largest investor-owned energy-delivery companies in the U.S., providing electric, gas, and steam services primarily in New York City and Westchester County, as well as engaging in renewable energy projects.