5 Most Undervalued Solar Stocks to Buy According to Hedge Funds

3. Consolidated Edison, Inc. (NYSE:ED)

Number of Hedge Fund Holders: 27

Consolidated Edison, Inc. (NYSE:ED) is getting the attention of smart money. As of the end of the third quarter, 27 hedge funds reported owning stakes in Consolidated Edison, Inc. (NYSE:ED), according to Insider Monkey’s database of 920 hedge funds. This was up from 21 hedge funds that reported having stakes in Consolidated Edison, Inc. (NYSE:ED) at the end of the previous quarter. This shows that the hedge fund sentiment around Consolidated Edison, Inc. (NYSE:ED) is positive.

Consolidated Edison, Inc. (NYSE:ED) is also one of the best and most reliable dividend stocks. Consolidated Edison, Inc. (NYSE:ED) has upped its dividends for over four decades in a row. Consolidated Edison, Inc. (NYSE:ED) has a dividend yield of over 3%.

In November, Consolidated Edison, Inc. (NYSE:ED) shares were upgraded by investment firm Bank of America to Neutral from Underperform. BofA also increased its price target for Consolidated Edison, Inc. (NYSE:ED) to $95 from $78.