Consolidated Edison (ED) is Upgraded by Jefferies to Buy

Consolidated Edison (ED) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Sep 14, 2016.

Many Wall Street Analysts have commented on Consolidated Edison. Consolidated Edison was Initiated by Citigroup to “Neutral” on Aug 12, 2016. Company shares were Reiterated by Mizuho on Aug 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .

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 opened for trading at $73 and hit $74.64 on the upside on Monday, eventually ending the session at $74.45, with a gain of 2.06% or 1.5 points. The heightened volatility saw the trading volume jump to 2,496,710 shares. Company has a market cap of $22,664 M.

In a different news, on Sep 7, 2016, John Mcavoy (Chairman, President & CEO) purchased 30 shares at $77.14 per share price. According to the SEC, on Sep 7, 2016, Joseph P Oates (President & CEO CET) purchased 7 shares at $77.14 per share price. On Sep 7, 2016, Gurudatta D Nadkarni (VP, Strategic Planning) purchased 27 shares at $77.14 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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