Could Consolidated Edison, Inc. Gain Strenght? Option Traders Don’t Think So

 Could Consolidated Edison, Inc. Gain Strenght? Option Traders Don't Think So

In today’s session Consolidated Edison, Inc. (ED) recorded an unusually high (261) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious ED decrease. With 261 contracts traded and 6034 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: ED161216P00067500 closed last at: $0.6 or 20% up. About 179,024 shares traded hands. Consolidated Edison, Inc. (NYSE:ED) has declined 2.84% since April 22, 2016 and is downtrending. It has underperformed by 8.25% the S&P500.

Analysts await Consolidated Edison, Inc. (NYSE:ED) to report earnings on February, 16. They expect $0.66 EPS, up 8.20% or $0.05 from last year’s $0.61 per share. ED’s profit will be $198.92 million for 26.72 P/E if the $0.66 EPS becomes a reality. After $1.50 actual EPS reported by Consolidated Edison, Inc. for the previous quarter, Wall Street now forecasts -56.00% negative EPS growth.

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

Out of 9 analysts covering Con Edison (NYSE:ED), 2 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 22% are positive. $80 is the highest target while $58 is the lowest. The $71.33 average target is 1.12% above today’s ($70.54) stock price. Con Edison has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Wednesday, July 29, the company rating was initiated by Mizuho. The firm earned “Buy” rating on Wednesday, September 14 by Jefferies. Deutsche Bank upgraded Consolidated Edison, Inc. (NYSE:ED) on Monday, October 24 to “Hold” rating. Vetr downgraded the shares of ED in a report on Monday, August 17 to “Hold” rating. Deutsche Bank downgraded the shares of ED in a report on Monday, April 18 to “Sell” rating. Goldman Sachs downgraded Consolidated Edison, Inc. (NYSE:ED) on Monday, October 19 to “Sell” rating. The stock of Consolidated Edison, Inc. (NYSE:ED) earned “Hold” rating by Deutsche Bank on Monday, December 14. The stock has “Sell” rating given by UBS on Monday, February 22. The firm earned “Market Perform” rating on Monday, August 10 by BMO Capital Markets. Goldman Sachs maintained Consolidated Edison, Inc. (NYSE:ED) rating on Wednesday, September 14. Goldman Sachs has “Sell” rating and $70 price target.

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 decreased to 1.05 in Q2 2016. Its down 0.37, from 1.42 in 2016Q1. The ratio dropped, 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 Mississippi-based Hancock Hldgs Co has invested 0.04% in Consolidated Edison, Inc. (NYSE:ED). Texas Permanent School Fund last reported 98,682 shares in the company. Kanaly Trust Com holds 11,470 shares or 0.19% of its portfolio. Cantab Cap Ltd Liability Partnership holds 0% of its portfolio in Consolidated Edison, Inc. (NYSE:ED) for 13,594 shares. Beacon holds 2,885 shares or 0.04% of its portfolio. Moreover, Shinko Asset Limited has 0% invested in Consolidated Edison, Inc. (NYSE:ED) for 3,351 shares. Utah Retirement System, a Utah-based fund reported 55,820 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.07% or 71,339 shares in its portfolio. Bb&T Secs Ltd Liability Corp owns 35,310 shares or 0.04% of their US portfolio. Sector Pension Board last reported 0.05% of its portfolio in the stock. Ngam Advisors L P last reported 17,104 shares in the company. Osborne Prns Capital Ltd Liability Corp holds 0.18% or 15,388 shares in its portfolio. Moreover, Farr Miller & Washington Llc Dc has 0.05% invested in Consolidated Edison, Inc. (NYSE:ED) for 5,218 shares. Moreover, Mufg Americas has 0.03% invested in Consolidated Edison, Inc. (NYSE:ED) for 11,801 shares. National Bank & Trust Of Nova Scotia has 0% invested in the company for 6,078 shares.

Insider Transactions: Since May 31, 2016, the stock had 56 insider buys, and 0 selling transactions for $153,717 net activity. 103 shares were bought by HOGLUND ROBERT N, worth $7,775 on Friday, September 30. Another trade for 29 shares valued at $2,325 was made by Cawley Timothy on Sunday, July 31. 45 shares were bought by Moore Elizabeth D, worth $3,458. The insider Muccilo Robert bought $1,969. 80 shares with value of $6,039 were bought by Nadkarni Gurudatta D on Friday, September 30. The insider Ivey Craig S bought 30 shares worth $2,210. McAvoy John bought $2,110 worth of Consolidated Edison, Inc. (NYSE:ED) on Wednesday, June 15.

Consolidated Edison, Inc. is a holding company. The company has a market cap of $21.26 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 17.44 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).

More important recent Consolidated Edison, Inc. (NYSE:ED) news were published by: Prnewswire.com which released: “Smart Grid Solutions Chosen by Consolidated Edison, Inc. for Groundbreaking …” on October 26, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Target, Consolidated Edison and CenterPoint Energy”, Forbes.com published: “Consolidated Edison a Top Socially Responsible Dividend Stock With 3.6% Yield (ED)” on November 08, 2016. More interesting news about Consolidated Edison, Inc. (NYSE:ED) was released by: Forbes.com and their article: “Consolidated Edison Reaches Analyst Target Price” with publication date: November 01, 2016.

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