Consolidated Edison Inc

ED: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$16.00	Krlds	Jqhddnb

Con Ed Reports Solid 2022 Earnings; New York Rate Settlement Supports Growth Plan

Travis Miller

Feb 17, 2023

We plan to raise our $86 per share fair value estimate for Con Ed by about 5% after the company reported earning $4.57 per share on an adjusted basis in 2022, up from $4.39 in 2021 and above our estimate, as well as a constructive settlement in its 2023-25 gas and electric rate case. We are reaffirming our no-moat and stable moat trend ratings.

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