In early August, the tropical cyclone Isaias knocked down countless trees in New York. Customers who had no electricity for three days received credit from the regional utility Consolidated Edison. By Tim Schäfer, Euro am Sonntag
The stock corrected. The electricity and gas provider has been paying dividends for 100 years, and it has been rising for 46 years. The board of directors needs another four years to become the dividend king. The business reliably pours money into the till – electricity and district heating are always needed. With New York, an important economic center with ten million inhabitants is supplied. 71 percent of the capacity comes from renewable energies.
Consolidated does without coal and nuclear power and is the second largest solar power producer in North America. The monopoly is strictly regulated. Regulators focus on reliability, hurricane preparedness and fair pricing. Management plans to invest around $ 4 billion annually through 2023. Average annual price increases of five percent are possible. The central bank’s zero interest rate policy limits the interest burden on loans. Opportunity for dividend fans.
Headquarters: New York City, New York (USA)
Market value: € 22.7 billion
Target price: 80.00 euros
Stop rate: 55.00 euros
Tim Schäfer is a journalist and has been writing about the stock market, stocks and companies since 1998. The business administration graduate and DVFA stock analyst has lived in New York since 2006 and reports from there on events on Wall Street, including for Euro am Sonntag. Schäfer is known for his reports on small caps.