Miller Joseph purchased $111 of ED

Consolidated Edison (ED) plans a $38B grid buildout to meet New York's growing energy needs, with 2,275 MW of new capacity expected by 2045. The company is investing in battery storage, clean technologies, and resilience initiatives, with a 8.7% CAGR in earnings base expected over five years. ED aims to align dividend growth with earnings while retaining capital for investments.

Jefferies reduced its price target for Consolidated Edison (ED) to $105 from $121, maintaining a Hold rating. The stock trades at $103.38, with InvestingPro data suggesting overvaluation. The firm discussed the company's affordability framework, rate case dynamics, and investment opportunities. ED has raised dividends for 51 consecutive years, offering a 3.43% yield. Mizuho raised its target to $114, citing grid needs opportunities.

iShares Global Infrastructure ETF (IGF) reported $17.6M in net buying on Sept 30, including a new $112.5M stake in Consolidated Edison (ED). Other notable buys were Grupo Aeroportuario del Pacifico (PAC) and Grupo Aeroportuario del Centro Norte (OMAB). IGF also sold out of PG&E (PCG) and trimmed positions in Cheniere Energy (LNG) and Williams (WMB).

Wells Fargo upgraded Consolidated Edison (ED) to Overweight, raising its price target to $118 from $108. The firm sees ED as a defensive play amid broader AI trade rotation. ED's stock rose 1.2% on Thursday.

The New York Public Service Commission is auditing AI use by utilities, citing risks like biases and cybersecurity threats. Utilities must report AI use cases within 60 days. Con Edison and National Grid use AI for operations, but regulators note the extent of AI use is unclear. The commission will evaluate AI governance frameworks.

Consolidated Edison (ED) subsidiary CECONY proposed a 3-year steam rate plan with NYSDPS, pending NYSPSC approval. The plan, if approved, will set rates from Nov 2026 to Oct 2029, affecting ED's steam operations revenue and customer rates. ED serves 3.5M customers in NYC and Westchester.