Industry Newsutilitiesconsolidated edisondividends
Consolidated Edison Sells Pipeline Stake For Cash
5.0
On Nov. 20 Morgan Stanley cut its price target on Consolidated Edison to $93 from $97, keeping an Underweight rating. A Con Edison subsidiary agreed to sell its roughly 6.6% stake in the Mountain Valley Pipeline to an Ares fund for $357.5 million, expected to close in H1 2026, with proceeds earmarked to partially fund 2026 equity needs. The utility serves New York City and has raised its dividend for 51 consecutive years.
Key Points
- 1Agreed sale of 6.6% Mountain Valley Pipeline stake for $357.5 million
- 2Raises $357.5M to partially fund 2026 equity needs and corporate purposes
- 3Maintains dividend strength; 51-year increase signals stable cash flow for investors
Scoring Rationale
Company-specific transaction provides useful investor insight, but limited industry impact and not related to core AI/ML topics.
Sources
Public references used for this report.
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