Today Consolidated Edison, Inc. Had High Bearish Options Activity

 Today Consolidated Edison, Inc. Had High Bearish Options Activity

In today’s session Consolidated Edison, Inc. (ED) recorded an unusually high (240) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ED decrease. With 240 contracts traded and 7094 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ED161021P00070000 closed last at: $0.45 or 50% up. About 779,180 shares traded hands. Consolidated Edison, Inc. (NYSE:ED) has risen 2.65% since March 3, 2016 and is uptrending. It has underperformed by 5.70% the S&P500.

Analysts await Consolidated Edison, Inc. (NYSE:ED) to report earnings on November, 3. They expect $1.56 EPS, up 8.33% or $0.12 from last year’s $1.44 per share. ED’s profit will be $473.06M for 11.66 P/E if the $1.56 EPS becomes a reality. After $0.77 actual EPS reported by Consolidated Edison, Inc. for the previous quarter, Wall Street now forecasts 102.60% EPS growth.

Consolidated Edison, Inc. (NYSE:ED) Ratings Coverage

Out of 9 analysts covering Con Edison (NYSE:ED), 2 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 22% are positive. Con Edison has been the topic of 24 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Deutsche Bank upgraded it to “Hold” rating and $62 target price in Monday, December 14 report. Goldman Sachs maintained the stock with “Sell” rating in Wednesday, September 14 report. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Sell” rating given on Friday, August 14 by UBS. Vetr downgraded Consolidated Edison, Inc. (NYSE:ED) on Monday, August 17 to “Hold” rating. Argus Research downgraded the stock to “Buy” rating in Friday, August 28 report. The firm has “Buy” rating given on Wednesday, September 14 by Jefferies. Mizuho maintained Consolidated Edison, Inc. (NYSE:ED) on Thursday, May 12 with “Neutral” rating. As per Monday, August 10, the company rating was maintained by Deutsche Bank. The firm has “Neutral” rating by Citigroup given on Friday, August 12. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Neutral” rating given on Wednesday, July 29 by Mizuho.

According to Zacks Investment Research, “Consolidated Edison, Inc. is one of the nation’s largest investor-owned energy companies. The company provides a wide range of energy- related products and services to its customers through regulated utility subsidiaries and competitive energy and telecommunications businesses.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.12, from 1.3 in 2016Q1. The ratio increased, as 48 funds sold all Consolidated Edison, Inc. shares owned while 183 reduced positions. 58 funds bought stakes while 269 increased positions. They now own 162.41 million shares or 0.62% more from 161.41 million shares in 2016Q1.
The Netherlands-based Shell Asset Management Commerce has invested 0.34% in Consolidated Edison, Inc. (NYSE:ED). The Nebraska-based Farmers And Merchants has invested 0.03% in Consolidated Edison, Inc. (NYSE:ED). Parsons Cap Mgmt Ri, a Rhode Island-based fund reported 14,176 shares. Employees Retirement System Of Texas last reported 18,000 shares in the company. Washington last reported 6,133 shares in the company. St Johns Management Limited Liability Company has invested 0.85% of its portfolio in Consolidated Edison, Inc. (NYSE:ED). Daiwa Secs last reported 0.02% of its portfolio in the stock. Pennsylvania Tru has 6,103 shares for 0.04% of their US portfolio. Trustmark Retail Bank Department has 4,797 shares for 0.05% of their US portfolio. Allianz Asset Ag has invested 0.05% of its portfolio in Consolidated Edison, Inc. (NYSE:ED). The New York-based Hudson Valley Advisors Inc Adv has invested 0.08% in Consolidated Edison, Inc. (NYSE:ED). Old Second National Bank & Trust Of Aurora has 370 shares for 0.01% of their US portfolio. Blackrock owns 510,677 shares or 0.04% of their US portfolio. Union holds 4,300 shares or 0.13% of its portfolio. Fifth Third National Bank last reported 0.02% of its portfolio in the stock.

Insider Transactions: Since April 15, 2016, the stock had 45 buys, and 0 sales for $111,177 net activity. Shares for $2,009 were bought by Muccilo Robert on Saturday, April 30. 7 shares were bought by OATES JOSEPH P, worth $561. The insider Ivey Craig S bought 29 shares worth $2,237. On Sunday, July 31 Nadkarni Gurudatta D bought $2,084 worth of the stock or 26 shares. Moore Elizabeth D also bought $2,232 worth of Consolidated Edison, Inc. (NYSE:ED) shares. The insider HOGLUND ROBERT N bought 29 shares worth $2,325. McAvoy John bought $2,122 worth of stock or 28 shares.

Consolidated Edison, Inc. is a holding company. The company has a market cap of $22.07 billion. The Firm operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and Con Edison Transmission, Inc. It has a 18.78 P/E ratio. It owns competitive energy businesses.

ED Company Profile

Consolidated Edison, Inc. (Con Edison), incorporated on September 3, 1997, is a holding company. The Firm operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and Con Edison Transmission, Inc. The Firm owns competitive energy businesses. Con Edison also owns Con Edison Transmission, Inc. (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

Another recent and important Consolidated Edison, Inc. (NYSE:ED) news was published by Forbes.com which published an article titled: “Consolidated Edison Reaches Analyst Target Price” on September 19, 2016.

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