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.
Investments Aid Consolidated Edison (ED), Price Risk Impacts
Read MoreHide Full Article
Consolidated Edison (ED - Free Report) follows a systematic capital investment plan for infrastructure development. However, commodity price risks are a persistent threat.
This Zacks Rank #3 (Hold) stock delivered an earnings surprise of 4.61%, on average, in the last four quarters. The Zacks Consensus Estimate for 2021 earnings per share is pegged at $4.24, up 0.5% in the past 60 days.
Tailwinds
Consolidated Edison continues to follow a systematic capital investment plan for infrastructure development and maintaining the reliability of its electric, gas and steam delivery systems. It plans to make capital investments of $12.1 billion in aggregate during the 2021-2023 time period.
The company is actively exploring opportunities to enhance renewable generation assets. At the end of March 2021, the company’s clean energy businesses had 2,809 MW AC of utility-scale renewable energy production projects and 62 MW of behind-the-meter renewable energy production projects in service. It generated 2,395 million kWh of electricity from solar projects and 414 million kWh from wind projects during first-quarter 2021.
Headwinds
Commodity-price risks related to the purchase and sale of its electricity, gas and related derivative instruments can be detrimental to Consolidated Edison’s growth. Further, storm restoration costs tend to push up the company’s overall operating expenses, which in turn may impact operating results.
The company bears a weak solvency position, with long term as well as current debt pegged significantly higher than its cash reserve, as of Mar 31, 2021.
Price Performance
In the past six months, shares of Consolidated Edison have gained 6.8% compared with the industry’s 2.5% rally.
The Zacks Consensus Estimate for 2021 earnings per share for Otter Tail, Entergy and Hawaiian Electric has moved up 2%, 0.2% and 8.8%, respectively, in the past 60 days.
The current dividend yield of Otter Tail, Entergy and Hawaiian Electric is 3.24%, 3.72% and 3.24%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Investments Aid Consolidated Edison (ED), Price Risk Impacts
Consolidated Edison (ED - Free Report) follows a systematic capital investment plan for infrastructure development. However, commodity price risks are a persistent threat.
This Zacks Rank #3 (Hold) stock delivered an earnings surprise of 4.61%, on average, in the last four quarters. The Zacks Consensus Estimate for 2021 earnings per share is pegged at $4.24, up 0.5% in the past 60 days.
Tailwinds
Consolidated Edison continues to follow a systematic capital investment plan for infrastructure development and maintaining the reliability of its electric, gas and steam delivery systems. It plans to make capital investments of $12.1 billion in aggregate during the 2021-2023 time period.
The company is actively exploring opportunities to enhance renewable generation assets. At the end of March 2021, the company’s clean energy businesses had 2,809 MW AC of utility-scale renewable energy production projects and 62 MW of behind-the-meter renewable energy production projects in service. It generated 2,395 million kWh of electricity from solar projects and 414 million kWh from wind projects during first-quarter 2021.
Headwinds
Commodity-price risks related to the purchase and sale of its electricity, gas and related derivative instruments can be detrimental to Consolidated Edison’s growth. Further, storm restoration costs tend to push up the company’s overall operating expenses, which in turn may impact operating results.
The company bears a weak solvency position, with long term as well as current debt pegged significantly higher than its cash reserve, as of Mar 31, 2021.
Price Performance
In the past six months, shares of Consolidated Edison have gained 6.8% compared with the industry’s 2.5% rally.
Stocks to Consider
Some better-ranked stocks in the same industry are Otter Tail Corporation (OTTR - Free Report) , Entergy Corporation (ETR - Free Report) and Hawaiian Electric Industries, Inc. (HE - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for 2021 earnings per share for Otter Tail, Entergy and Hawaiian Electric has moved up 2%, 0.2% and 8.8%, respectively, in the past 60 days.
The current dividend yield of Otter Tail, Entergy and Hawaiian Electric is 3.24%, 3.72% and 3.24%, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>