Morgan Stanley Updates Consolidated Edison (ED) Price Target Amid Sector Headwinds

Group 1: Company Overview - Consolidated Edison, Inc. (NYSE:ED) is recognized as one of the 15 Best Boring Dividend Stocks to Buy, highlighting its stable dividend performance [1] - The company has a long-standing history of increasing its dividend for 51 consecutive years, the longest streak among utilities in the S&P 500 [4] - Consolidated Edison provides electricity, gas, and steam services to customers in the New York City area, contributing to its stable cash flow [4] Group 2: Recent Developments - Morgan Stanley has lowered its price target for Consolidated Edison from $97 to $93 while maintaining an Underweight rating, reflecting sector headwinds [2] - A subsidiary of Consolidated Edison has agreed to sell its approximately 6.6% stake in the Mountain Valley Pipeline to an Ares Management fund for $357.5 million, with the deal expected to close in the first half of 2026 [3] - The proceeds from the sale will be used to partially cover the company's common equity needs for 2026 and for general corporate purposes [4]