Here's How You Can Earn $100 In Passive Income By Investing In Consolidated Edison Stock

Consolidated Edison, Inc. ED engages in the regulated electric, gas and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County, gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

It will report its Q4 2024 earnings on Feb. 13, 2025. Wall Street analysts expect the company to post an EPS of $0.94, down from $1.00 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $3.67 billion, up from $3.44 billion in the year-ago period.

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The 52-week range of Consolidated Edison’s stock price was $85.85 to $107.75.

Consolidated Edison’s dividend yield is 3.73%. It paid $3.32 per share in dividends during the last 12 months.

The Latest On Consolidated Edison

On Nov. 7, the company announced its Q3 2024 earnings, posting an adjusted EPS of $1.68, beating the consensus estimate of $1.62, as reported by Benzinga.

“As a result of our solid third-quarter results and financial performance year to date, as well as our outlook for the balance of the year, we are narrowing and revising our 2024 adjusted EPS guidance to the upper half of our original range,” said Kirk Andrews, senior vice president and CFO of Consolidated Edison. 

For 2024, the company expects its adjusted earnings per share to be between $5.30 and $5.40. Its previous forecast was between $5.20 and $5.40 per share.

Check out this article by Benzinga for eight analysts' insights on Consolidated Edison.

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How Can You Earn $100 Per Month As A Consolidated Edison Investor?

If you want to make $100 per month – $1,200 annually – from Consolidated Edison dividends, your investment value needs to be approximately $32,172, which is around 364 shares at $88.35 each. 

Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (3.73% in this case). So, $1,200 / 0.0373 = $32,172 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.

The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.

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For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40). 

In summary, income-focused investors may find Consolidated Edison stock an attractive option for making a steady income of $100 per month by owning 364 shares of stock. There may be more upside as investors benefit from the company's consistent dividend hikes. Consolidated Edison has raised its dividend consecutively for the last 50 years. 

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