Morningstar - Consolidated Edison Inc. (ED) Con Ed Accelerates Utility Investment

Report

Morningstar

Charles Fishman

EUR 100.00 For Business Accounts Only

Con Ed Accelerates Utility Investment

We are reaffirming our fair value estimate of $78 per share after no-moat Consolidated Edison reported solidÂ 2018Â earnings and initiated 2019 earnings guidance. Adjusted earnings per share for 2018 were $4.33 versus $4.12 last year and beat our estimate and the consensus by $0.03. Our 2019 EPS estimate of $4.30 is in the lower half of the new EPS guidance range of $4.25-$4.45.
Although Con Ed closed on its Sempra acquisition of solar assets in December, it remains heavily dependent on its regula...

18/03/2019 13 EN

Underlying

Consolidated Edison Inc.

Consolidated Edison is a holding company. Through its subsidiaries, the company is engaged in provision of energy services. The company's subsidiaries include: Consolidated Edison Company of New York, Inc.'s principal business operations are its regulated electric, gas and steam delivery businesses; Orange & Rockland Utilities, Inc.'s principal business operations are its regulated electric and gas delivery businesses; Con Edison Clean Energy Businesses, Inc. develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc. invests in electric and gas transmission projects.

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US2091151041 New York Stock Exchange United States

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Charles Fishman

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Con Ed Accelerates Utility Investment

Vermilion Compass: Weekly Equity Strategy

Vital Signs: Actionable charts

Consolidated Edison, Inc.: Update to credit analysis

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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