New York Power and Light: Who’ll say “Booyah!” when Con Ed’s rate case is decided?
NY Power and Light –Here’s the word on New York’s regulation of Con Edison: Booyah!
Last week, Con Ed declared a 61.5-cent quarterly dividend. With its shares trading at around $56, that works out roughly to a 4 percent yield for the company’s stockholders. Try getting that on a Treasury bill, or in your plain-vanilla savings account at Chase, Citibank or wherever.
CNBC stock guru Jim Cramer loves Con Edison for its high returns. “It is a company that has a fabulous balance sheet, arguably much better than that of the United States, and it is backed up by the full faith and credit of people who don’t want their lights turned off,” Cramer said of the company last year.