Consolidated Edison (ED) was Reiterated by Mizuho to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 72 from a previous price target of $66 . Mizuho advised their investors in a research report released on May 12, 2016.
Many Wall Street Analysts have commented on Consolidated Edison. Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .
On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.54. The company had revenue of $2707.00 million for the quarter, compared to analysts expectations of $2833.85 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.
Consolidated Edison closed down -0.54 points or -0.73% at $73.81 with 43,20,796 shares getting traded on Tuesday. Post opening the session at $73.26, the shares hit an intraday low of $73.16 and an intraday high of $74.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 5, 2016, John Mcavoy (Chairman, President & CEO) purchased 31 shares at $74.39 per share price. According to the SEC, on May 5, 2016, Timothy Cawley (President & CEO, O&R) purchased 31 shares at $74.39 per share price. On May 5, 2016, Joseph P Oates (SVP, Corporate Shared Services) purchased 7 shares at $74.39 per share price, according to the Form-4 filing with the securities and exchange commission.
Consolidated Edison Inc. (Con Edison) is a holding company. The Company operates through its subsidiaries which include Consolidated Edison Company of New York Inc. (CECONY) Orange and Rockland Utilities Inc. (O&R) and the Competitive Energy Businesses. CECONY delivers electricity natural gas and steam to customers in New York City and Westchester County. Orange and Rockland Utilities Inc. (O&R) delivers electricity and natural gas to customers located in south-eastern New York northern New Jersey and north-eastern Pennsylvania. O&R’s utility subsidiaries include Rockland Electric Company and Pike County Light & Power Company. Competitive energy businesses provide retail and wholesale electricity supply and energy services. The Competitive Energy Businesses include three subsidiaries: Consolidated Edison Solutions Inc. (Con Edison Solutions); Consolidated Edison Energy Inc. (Con Edison Energy) and Consolidated Edison Development Inc. (Con Edison Development).