On a terrible day in the markets like Wednesday, where the Dow plummeted 265 points, Cramer said investors need the dividend protection that a stock like Consolidated Edison offers.
Con Ed boasts a 5% yield, and the stock, including dividends, is up 34% since CEO Kevin Burke’s April 29, 2009, appearance on Mad Money.
The problem with this play, though, is that its pennies away from its 52-week high, and analysts seem to have little hope that the run will continue. Of the 16 that cover ED, only one rates it “buy,” while 14 consider it a “hold” and one a “sell.”
Still, Cramer called that thinking “crazy,” pointing to a “solid quarter” reported last Thursday, Aug. 5. Who’s right, Mad Money or the Street? Watch this interview with CEO Burke to find out.
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