$44.74
0.37 (+0.83%)
Consolidated Edison, Inc. (ED)
CAPS Rating:
Principal business segments are Con Edison of New York's regulated electric, gas and steam utility segments, Orange and Rockland Utilities' regulated electric and gas utility segments and the unregulated businesses of Con Edison's other subsidiaries.
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I love getting utilities on the cheap! This is simply free money. It's the cherry of utilities as well. Do you think that people in NY will still need gas and electricity? No matter what the economy, people still like to keep the lights on.
I agree. I moved a bunch of 401k money out of Fidelity Cash Reserves (paying less than 2%) to ED at the beginning of this month. I'm having a hard time seeing the down side; the up side is 6 % dividend at the price I paid, and the potential for growth of the stock price. As long as I hold on and as long as ED maintains their dividend (as their history indicates--yes, I know past performance is not an indicator of future ...) I'm having trouble finding out what's wrong with this strategy, even though I know it's bad to put a lot of eggs into one basket. I assume there is risk to ED if the credit crunch and cost of living issues mean the citizens stop paying their bills, but the utilities seem to have a way to work around those folks' problems. What am I missing ????