Morningstar - Consolidated Edison Inc. (ED) Con Edison Reports Solid 3Q, Narrows Guidance; Raising FVE to $78

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Morningstar

Charles Fishman

EUR 100.00 For Business Accounts Only

Con Edison Reports Solid 3Q, Narrows Guidance; Raising FVE to $78

We are increasing our fair value estimate to $78 from $77 per share after no-moat Consolidated Edison reported solid third-quarterÂ 2018Â adjusted EPS of $1.57 per share versus $1.47 in the year-ago period. Con Ed reported adjusted EPS growth in the recently ended quarter of $0.08 at its utilities, $0.03 in its clean energy business segment, and $0.01 at Con Edison transmission versus third-quarter 2017. These favorable variances were partially offset by $0.02 per share higher expenses at the pare...

05/11/2018 12 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 Edison Reports Solid 3Q, Narrows Guidance; Raising FVE to $78

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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