Consolidated Edison (ED) is Reiterated by Mizuho to Neutral, Raises Price Target to $ 75

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 $ 75 from a previous price target of $72 . Mizuho advised their investors in a research report released on Aug 8, 2016.

Many Wall Street Analysts have commented on Consolidated Edison. Company shares were Reiterated by Mizuho on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 72 from a previous price target of $66 .

On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2804.65.During the same quarter in the previous year, the company posted $0.78 EPS.

Consolidated Edison closed down -1.04 points or -1.32% at $77.75 with 19,65,606 shares getting traded on Friday. Post opening the session at $78.45, the shares hit an intraday low of $77.655 and an intraday high of $78.64 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 4, 2016, Joseph P Oates (SVP, Corporate Shared Services) purchased 7 shares at $80.16 per share price. According to the SEC, on Aug 4, 2016, Gurudatta D Nadkarni (VP, Strategic Planning) purchased 26 shares at $80.16 per share price. On Aug 4, 2016, Robert Muccilo (VP & Chief Accounting Officer) purchased 25 shares at $80.16 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).

Consolidated Edison

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