Consolidated Edison Inc (ED) : Tuesdays money flow points at investors jumping to buy the stock on the weakness of price. $1.71 million worth of transactions were on upticks, whereas, the downticks accounted for $0.71 million worth of transactions. The net money flow was a positive $1 million and the uptick to downtick ratio was 2.41. The net money flow into the stock was $1.07 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $1.07 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Consolidated Edison Inc (ED) was trading at $75.17, down $0.08 during day. The stock slid -0.11% over the previous days close. For the week, the stock recorded 0.53% over the previous weeks close.
Also, Citigroup initiates coverage on Consolidated Edison Inc (NYSE:ED) . The global brokerage major announces a current price target of $76 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on August 12, 2016.
Consolidated Edison, Inc. has lost 2.43% in the last five trading days and dropped 6.49% in the last 4 weeks. Consolidated Edison, Inc. is up 2.16% in the last 3-month period. Year-to-Date the stock performance stands at 19.24%.
Consolidated Edison Inc (NYSE:ED): The stock opened at $75.07 on Tuesday but the bulls could not build on the opening and the stock topped out at $75.57 for the day. The stock traded down to $74.56 during the day, due to lack of any buying support eventually closed down at $74.60 with a loss of -0.86% for the day. The stock had closed at $75.25 on the previous day. The total traded volume was 1,218,573 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chairman, President & CEO) of Consolidated Edison Inc, Mcavoy John, had purchased 027 shares in a transaction dated on August 15, 2016. The transaction was executed at $78.2 per share with total amount equaling $2,111.
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&Rs 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).