The stock of Consolidated Edison, Inc. (NYSE:ED) is a huge mover today! About 412,106 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.
The move comes after 9 months positive chart setup for the $21.30 billion company. It was reported on Nov, 25 by Barchart.com. We have $74.19 PT which if reached, will make NYSE:ED worth $1.07B more.
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 $198.95 million for 26.77 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. Con Edison has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Hold” rating given on Thursday, July 14 by Jefferies. Deutsche Bank upgraded Consolidated Edison, Inc. (NYSE:ED) rating on Monday, October 24. Deutsche Bank has “Hold” rating and $74 price target. The firm has “Sell” rating by Deutsche Bank given on Monday, April 18. UBS maintained the stock with “Sell” rating in Monday, February 22 report. The firm has “Hold” rating given on Monday, August 10 by Vetr. Mizuho initiated it with “Neutral” rating and $64 target price in Wednesday, July 29 report. As per Wednesday, September 14, the company rating was upgraded by Jefferies. The firm has “Market Perform” rating by BMO Capital Markets given on Monday, August 10. Citigroup initiated Consolidated Edison, Inc. (NYSE:ED) rating on Friday, August 12. Citigroup has “Neutral” rating and $76 price target. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Sell” rating given on Monday, October 19 by Goldman Sachs.
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 turned negative, 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.
State Bank Of Hawaii last reported 0.12% of its portfolio in the stock. Union Fincl Bank holds 0.13% of its portfolio in Consolidated Edison, Inc. (NYSE:ED) for 4,300 shares. Haverford Trust has 0.05% invested in the company for 25,824 shares. City Co has 0.6% invested in the company for 16,832 shares. Delta Lloyd Nv holds 0.05% or 17,747 shares in its portfolio. Calamos Advsr Lc has 44,448 shares for 0.03% of their US portfolio. Palisade Cap Mngmt Limited Co Nj has 0.02% invested in the company for 7,500 shares. Cobblestone Capital Advsrs Lc New York owns 6,032 shares or 0.07% of their US portfolio. Johnson Group has invested 0.17% of its portfolio in Consolidated Edison, Inc. (NYSE:ED). Moreover, Nationwide Fund Advsrs has 0.04% invested in Consolidated Edison, Inc. (NYSE:ED) for 116,294 shares. Moreover, Delta Asset Mngmt Lc Tn has 0.13% invested in Consolidated Edison, Inc. (NYSE:ED) for 9,238 shares. Rnc Cap Limited Company accumulated 0.02% or 3,137 shares. Lazard Asset Mngmt Lc last reported 0.01% of its portfolio in the stock. Clifford Swan Counsel reported 12,578 shares or 0.07% of all its holdings. Spot Trading Ltd Liability Corporation holds 0.04% or 27,360 shares in its portfolio.
Insider Transactions: Since May 31, 2016, the stock had 56 insider purchases, and 0 insider sales for $153,717 net activity. OATES JOSEPH P bought $540 worth of stock or 7 shares. On Tuesday, May 31 the insider Nadkarni Gurudatta D bought $2,063. $6,039 worth of Consolidated Edison, Inc. (NYSE:ED) was bought by Muccilo Robert on Friday, September 30. Another trade for 15 shares valued at $1,132 was bought by Sanchez Robert. Shares for $2,284 were bought by Cawley Timothy. McAvoy John also bought $2,110 worth of Consolidated Edison, Inc. (NYSE:ED) shares. Moore Elizabeth D had bought 30 shares worth $2,210 on Tuesday, May 31.
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.
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).
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