• Consolidated Edison reported third quarter earnings for 2025, posting US$4.53 billion in revenue and US$688 million in net income, alongside an increase in its full-year earnings guidance.

• The company announced a major three-year infrastructure investment plan backed by a joint settlement agreement, aiming to support critical upgrades to New York’s energy network while prioritizing reliability and affordability.

• We’ll explore how the launch of this multi-year infrastructure investment plan influences Consolidated Edison’s investment narrative and long-term outlook.

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Being a Consolidated Edison shareholder is largely about believing in the stability and predictability of a regulated utility with deep roots in New York’s energy infrastructure. The latest earnings, which not only beat expectations but also prompted an increase in full-year guidance, signal strong operational execution in the face of ongoing market pressures. Perhaps most significant for the short term is the new three-year infrastructure investment plan, backed by a wide-ranging joint settlement, which if approved, may shift the narrative around reliability, capital intensity and regulatory risk. The proposal’s focus on maintaining affordability while funding upgrades is designed to address key investor concerns regarding rate hikes and cost recovery. However, while the plan addresses some regulatory and operational uncertainties, exposure to interest rate risks and the ultimate outcome of pending regulatory approvals are still open questions. Share price moves since the announcement suggest the market, so far, largely views these updates as a continuation of Con Ed’s steady approach rather than a transformative change.

But the regulatory approval process could add new uncertainty most investors might not expect. Consolidated Edison’s shares are on the way up, but could they be overextended? Uncover how much higher they are than fair value.

Among the Simply Wall St Community, two contributors currently value Consolidated Edison shares between US$97.71 and US$103.80. As you compare these numbers to larger analyst forecasts and consider evolving regulatory risks, it’s clear that perspectives differ and the consensus may shift with any regulatory decision. Explore all viewpoints to see how others are weighing these possibilities.

Explore 2 other fair value estimates on Consolidated Edison – why the stock might be worth as much as 6% more than the current price!