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Consolidated Edison Inc ED Stock Quote

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Morningstar‘s Stock Analysis ED

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ConEd Secures Premium Value for Clean Energy Business; Focus Turns to Core Utilities Growth

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $86 per share fair value estimate for ConEd after European utility RWE agreed to pay $6.8 billion for ConEd's renewable energy business, one of the largest portfolios of wind and solar projects in the U.S.

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Company Profile ED

Business Description

Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities will generate nearly all of Con Ed's earnings once it closes the sale of its clean energy business to RWE. Con Ed's clean energy business owns the second-largest portfolio of utility-scale solar projects in the U.S. Following the sale, Con Ed's only non-utility earnings will come from investments in gas and electric transmission.

Contact
4 Irving Place, Room 700
New York, NY, 10003
T +1 212 460-4600
Industry Utilities - Regulated Electric
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 13,871

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