After a year like 2023, investors are probably taking the proverbial victory lap, and with good reason, with the Nasdaq up a stunning 43% and the S&P 500 up 24%.
Consolidated Edison is a utility company that distributes electricity, gas, and steam energy to about 4 million people in New York. The company has been making big investments in clean energy, mostly driven by new rules and regulations.
This stock has rallied off 2023 lows, and is an outstanding way for investors to add an inflation-busting real estate position that pays a hefty 3.97% dividend.
NEW YORK , Feb. 15, 2024 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2023 net income for common stock of $2,519 million or $7.25 a share compared with $1,660 million or $4.68 a share in 2022. Adjusted earnings (non-GAAP) were $1,762 million or $5.07 a share in the 2023 period compared with $1,620 million or $4.57 a share in 2022.
Nineteen new dividend increases reported, including two dividend kings: Consolidated Edison and Black Hills Corporation. Companies that regularly raise their dividends perform better than those that do not.
While it's usually a solid principle to bet alongside Wall Street's top experts, sometimes, they don't get it right, which brings us to contrarian analyst picks. You know how I've been supporting my arguments with analyst ratings and price targets?
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