Consolidated Edison Inc (ED) Shares are Up 1.34%

Consolidated Edison Inc (ED) has been under a strong bear grip, hence the stock is down -1.47% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.28% in the past 1 week. The stock has risen by 1.34% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.45% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 0.69% and the 50-Day Moving Average is 0.25%. Consolidated Edison Inc (NYSE:ED): stock turned positive on Friday. Though the stock opened at $78.73, the bulls momentum made the stock top out at $79.02 level for the day. The stock recorded a low of $78.42 and closed the trading day at $78.79, in the green by 0.51%. The total traded volume for the day was 1,819,506. The stock had closed at $78.39 in the previous days trading.


The company Insiders own 0.16% of Consolidated Edison Inc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 0.74% . Institutional Investors own 52.97% of Consolidated Edison Inc shares. During last six month period, the net percent change held by insiders has seen a change of 1.72%. Also, Citigroup initiates coverage on Consolidated Edison Inc (NYSE:ED). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Citigroup announces a current price target of $76 per share. The rating by the firm was issued on August 12, 2016.

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).

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