Management Meeting: ConEd Avoids Worst-Case Scenarios With REV, Might Benefit
We are reaffirming our $65 per share fair value estimate and stable no-moat rating for Consolidated Edison, Inc. after meeting with executives at the American Gas Association Financial Forum in Orlando.New York's Reforming the Energy Vision, or REV, will likely become the key long-term policy mechanism that drives ConEd's growth during the next five to 10 years. New York Public Service Commission Chairman Audrey Zibelman resigned in March but left a three-pronged REV framework to guide policy i...
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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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.
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