Consolidated Edison Inc (ED) has been under a strong bear grip, hence the stock is down -3.02% 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 1.94% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.56% in the last 1 week, and is up 3.53% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Consolidated Edison Inc (NYSE:ED): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $79.79 and $79.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $81.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $81.18, notching a gain of 1.61% for the day. The total traded volume was 1,866,473 . The stock had closed at $79.89 on the previous day.
The stock has recorded a 20-day Moving Average of 2.02% and the 50-Day Moving Average is 5.96%. Consolidated Edison, Inc. is up 14.44% in the last 3-month period. Year-to-Date the stock performance stands at 28.65%.
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).