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Is Consolidated Edison a Good Utilities Stock to Own? -Breaking


© Reuters. Consolidated Edison: A Good Utilities Stock?

Consolidated Edison Inc. (NYSE :), a major energy-delivery firm, has sought to grow its offerings across the nation and increase its market share. However, its stock’s price dipped more than 2% on Monday after Bank of America (NYSE:) downgraded its rating. So, considering ED’s weak fundamentals and poor growth prospects, is the stock worth owning now? Find out more. Consolidated Edison, Inc., (ED), is one the most prominent investor-owned energy-delivery businesses in the country. New York City-based Consolidated Edison, Inc. (ED) is a company that owns and operates energy infrastructure projects. It also offers energy products and services to wholesale customers and retailers. The company’s stock has climbed 3% in price over the past month, fueled by its efforts to expand its operational capabilities and accelerate its growth through various unique clean energy innovations.

However, the stock has lost 4.8% in price over the past six months to close yesterday’s trading session at $75.51. The company’s relatively weak fundamentals and low-profit margins imply bleak growth prospects.

In addition, Bank of America recently downgraded the stock from “Neutral” to “Underperform,” indicating bearish sentiment about the stock’s future price performance.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.