5 Stocks for Dividend Growth Investing in 2022

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

Dividend Yield as of January 24: 3.82%

Number of Years of Consistent Dividend Increases: 47

Number of Hedge Fund Holders: 24

Consolidated Edison, Inc. (NYSE:ED) is a leading American energy company that is entirely investor-owned, supplying electricity, gas, and steam to the New York metropolitan area. Consolidated Edison, Inc. (NYSE:ED) has been distributing increasing dividends for 47 consecutive years.

On January 20, Consolidated Edison, Inc. (NYSE:ED) declared a $0.79 per share quarterly dividend, which is a 1.9% increase from its prior dividend of $0.78. As of January 24, Consolidated Edison, Inc. (NYSE:ED) delivers a 3.82% dividend yield, making it one of the top plays for dividend growth investing in 2022. 

RBC Capital analyst Shelby Tucker on December 22 raised the price target on Consolidated Edison, Inc. (NYSE:ED) to $85 from $78 but kept a Sector Perform rating on the shares. The company has the potential to capitalize on meaningful investment opportunities given the state’s “ambitious” clean energy goals, but New York’s challenging regulatory environment remains an issue, the analyst tells investors in a research note. 

In the third quarter of 2021, 24 hedge funds were long Consolidated Edison, Inc. (NYSE:ED), with stakes totaling $364.1 million. Electron Capital Partners owns 1.35 million Consolidated Edison, Inc. (NYSE:ED) shares as of Q3, valued at $98.4 million, and is the biggest stakeholder of the company. 

You can also take a look at Retirement Stock Portfolio: 10 Safe Tech Stocks To Consider and 10 Best Dividend Aristocrats to Buy for 2022. 

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