We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
We issued an updated research report on energy provider, Consolidated Edison, Inc. (ED - Free Report) , also known as ConEd, on May 18. ConEd follows a systematic capital investment plan for infrastructure development and expansion of renewable assets.
Going ahead, the company boasts a robust capital expenditure plan of around $11.1 billion for the 2017–2019 time frame. Roughly 84% of the planned investment has been allocated for its regulated utility operations, while the rest goes to its competitive business.
With respect to recent updates regarding its renewable assets generation, the company’s renewable energy production volumes improved a solid 34.4% during the first quarter of 2017, leading to an increase of $20 million in renewable revenues.
The company plans to make renewable investments worth $450 million in 2017 and a total of $1,250 million in the 2017–2019 time frame.
Moreover, on Jan 19, 2017, the company increased its quarterly dividend payout to 69 cents from the prior distribution of 67 cents. In this line, ConEd’s stock gained 11.2% in the last one year, outperforming the Zacks categorized Utility-Electric Power industry’s gain of 1.4%.
Further, ConEd’s net cash flow from operating activity in the first quarter was $448 million, while its cash and temporary cash investments were $67 million compared with the prior period’s $61 million. This demonstrated the stable financial position that the company boasts, backed by a strong cash generation capacity that enables it to follow a disciplined capital spending program.
ConEd’s first-quarter earnings as well as revenues comfortably surpassed the respective Zacks Consensus Estimate. Results also improved year over year.
However, the company faces intense competition from other utilities in the market like Alliant Energy Corporation (LNT - Free Report) , CenterPoint Energy, Inc. (CNP - Free Report) and NiSource, Inc. (NI - Free Report) , all of which belong to the same industry.
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Image: Bigstock
Consolidated Edison Q1 Results & Investment Plans Impress
We issued an updated research report on energy provider, Consolidated Edison, Inc. (ED - Free Report) , also known as ConEd, on May 18. ConEd follows a systematic capital investment plan for infrastructure development and expansion of renewable assets.
Going ahead, the company boasts a robust capital expenditure plan of around $11.1 billion for the 2017–2019 time frame. Roughly 84% of the planned investment has been allocated for its regulated utility operations, while the rest goes to its competitive business.
With respect to recent updates regarding its renewable assets generation, the company’s renewable energy production volumes improved a solid 34.4% during the first quarter of 2017, leading to an increase of $20 million in renewable revenues.
The company plans to make renewable investments worth $450 million in 2017 and a total of $1,250 million in the 2017–2019 time frame.
Moreover, on Jan 19, 2017, the company increased its quarterly dividend payout to 69 cents from the prior distribution of 67 cents. In this line, ConEd’s stock gained 11.2% in the last one year, outperforming the Zacks categorized Utility-Electric Power industry’s gain of 1.4%.
Further, ConEd’s net cash flow from operating activity in the first quarter was $448 million, while its cash and temporary cash investments were $67 million compared with the prior period’s $61 million. This demonstrated the stable financial position that the company boasts, backed by a strong cash generation capacity that enables it to follow a disciplined capital spending program.
ConEd’s first-quarter earnings as well as revenues comfortably surpassed the respective Zacks Consensus Estimate. Results also improved year over year.
However, the company faces intense competition from other utilities in the market like Alliant Energy Corporation (LNT - Free Report) , CenterPoint Energy, Inc. (CNP - Free Report) and NiSource, Inc. (NI - Free Report) , all of which belong to the same industry.
Zacks Rank
Consolidate Edison currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>