Con Edison (NYSE:ED) Stock Upgrade
Con Edison (NYSE:ED) was lifted by Deutsche Bank from a “Sell” rating to a more respectable “Hold” rating in a very recent research note made public earlier today. They currently have a $62.0 PT on the stock, which means a possible upside of 1.96% from the stock close price of the stock.
From a total of 13 analysts covering Con Edison (NYSE:ED) stock, 0 rate it a ”Buy”, 7 a “Sell”, and 11 a ”Hold”. This means that 0% of the ratings are positive. The highest target price is $68 while the lowest target price is $58. The mean of all analyst targets is $62.54 with a 3.28% above today’s ($61.83) stock price. Con Edison was the topic of 13 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on October 19 to “Sell” rating. Deutsche Bank maintained shares with “Sell” rating and $60.0 target share price in a report from an August 10. Argus Research downgraded ED stock in a recent report from August 28 to “Buy” rating. BMO Capital Markets maintained the rating on August 10. BMO Capital Markets has a “Market Perform” rating and a $66 price target on shares. Finally, UBS maintained the stock with “Sell” rating in a report issued on an August 14.
Approximately 1.39M shares of stock traded hands. Consolidated Edison, Inc. (NYSE:ED) has declined 1.14% since May 11, 2015 and is downtrending. It has outperformed by 3.28% the S&P500.
The overall sentiment of institutions has decreased to 1.02 in Q2 2015. Its down 0.02, from 1.04 in 2015Q2. The ratio is negative, as 41 institutions have sold all the shares of Consolidated Edison, Inc. that they owned while 232 funds have taken shares off the table. 67 funds have purchased shares for the first time while 212 added to their positions. These institutions now hold 163.57 million shares or 7.84% more than the 151.68 million shares they owned in 2015Q2.
The Fund Sfe Investment Counsel currently is holding shares equating to 4.66% of its total portfolio in Consolidated Edison, Inc. representing a total of 125,100 shares. Another fund,Symons Capital Management Inc, is holding a total of 231,665 shares equating to 4.17% of their holdings. Additionally, Welch Group Llc has a 257,184 share stake in Consolidated Edison, Inc. which represents 3.32% of their total portfolio. The Fund, Hamel Associates Inc., based out of New Jersey, has also built up a stake in the stock, which represents a total of 3.26% of their total portfolio. Finally Rench Wealth Management Inc., a fund which is based in the state of Texas reported a total holdings of 46,405 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of Consolidated Edison, Inc. have witnessed 13 buys, and a total of 1 sale equating to a net activity of approximately $133,363 . Mcavoy John bought 36 shares worth approximately $2,362. Ivey Craig S bought 73 shares worth approximately $4,599. Hoglund Robert N bought 112 shares worth approximately $7,056. Cawley Timothy bought 52 shares worth approximately $3,276. The company insider Resheske Frances bought 1 shares worth $63.
Consolidated Edison, Inc. is a holding company. The company has a market cap of $17.87 billion. The Firm 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. It has 16.54 P/E ratio. CECONY delivers electricity, natural gas and steam to clients in New York City and Westchester County.
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.”