If you’re looking to earn passive income through investing, Consolidated Edison, Inc. (NYSE: ED) may be a great option for you. This company is involved in the regulated electric, gas, and steam delivery businesses in the United States, serving millions of customers in New York City and Westchester County. With an upcoming earnings report on Feb. 13, 2025, there is potential for investors to earn dividends and see growth in their investment.
In the last quarter, Consolidated Edison posted an adjusted EPS of $1.68, beating analyst estimates. This positive performance has led the company to revise its 2024 adjusted EPS guidance to the upper half of the original range, showing confidence in its financial outlook. With an expected adjusted earnings per share between $5.30 and $5.40 for 2024, there is room for growth in the company’s stock value.
One key aspect that makes Consolidated Edison an attractive investment for income-focused investors is its consistent dividend payouts. The company has a dividend yield of 3.73% and has paid $3.32 per share in dividends over the last 12 months. By owning approximately 364 shares of stock at a price of $88.35 each, investors can potentially earn $100 per month in dividends, totaling $1,200 annually.
Understanding how dividend yield calculations work is essential for investors. By dividing the desired annual income by the dividend yield percentage, investors can determine the approximate investment value needed to generate a specific income. The dividend yield can fluctuate based on changes in stock prices and dividend payments, so it’s important to monitor these factors regularly.
Consolidated Edison’s track record of consistently raising dividends for the last 50 years is a positive sign for investors seeking stable income streams. With the potential for further dividend hikes and growth in the company’s stock value, owning shares in Consolidated Edison could be a lucrative investment opportunity for those looking to earn passive income.
In conclusion, investing in Consolidated Edison stock can provide investors with the opportunity to earn $100 per month in passive income through dividends. With a strong financial performance, consistent dividend payouts, and potential for growth, this company offers a reliable option for income-focused investors. Consider speaking to a financial advisor to explore how investing in Consolidated Edison can help you achieve your financial goals.
