12 Best Electric Utility Stocks to Buy Now

9. Consolidated Edison, Inc. (NYSE:ED)

Number of Hedge Fund Investors: 44

An American utility company, Consolidated Edison, Inc. (NYSE:ED) offers regulated gas, steam, and electricity distribution services. The vast infrastructure that it manages includes distribution networks for natural gas and electricity as well as transmission lines, substations, and transformers. The company, which was founded in 1823 and has its headquarters in New York City, serves customers in the residential, commercial, industrial, and government sectors.

Despite regulatory obstacles in the past, Consolidated Edison, Inc. (NYSE:ED)’s primary rate-regulated natural gas and electric distribution utilities in New Jersey and New York have generated consistent dividend increases and earnings, making it one of the Best Utility Stocks to consider.

The revenue grew by 6.53% YoY in Q4 of 2024 and 4.04% in 2024. Overall, the financial performance for 2024 was primarily driven by the utility rate plans’ excellent implementation, which included continuous investment to maintain dependability and promote the clean energy transition. Greater pricing certainty for a significant amount of the projected 2025 equity funding needs is made possible by the successful completion of an equity forward transaction in the fourth quarter.

Andrew Weisel, a Scotiabank analyst, maintained a Sector Perform rating on Consolidated Edison, Inc. (NYSE:ED) shares and increased the price objective from $100 to $101. In a research note, the analyst informs investors that the company has shed the two main bear cases that have impacted shares over the previous few years: a difficult political and regulatory climate and below-average growth. The firm is greatly encouraged by the Orange and Rockland Utilities rate case in 2024, which was settled on significantly better-than-expected terms, even though the regulatory environment cannot be deemed completely clear until the highly publicized Consolidated Edison Company of New York rate case is concluded later this year.