Evercore ISI Group Upgrades Consolidated Edison to Hold

Brokerage firm Evercore ISI Group Upgrades its rating on Consolidated Edison(NYSE:ED). The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by Evercore ISI Group was issued on Sep 27, 2016.

In a different note, On Sep 21, 2016, Barclays said it Maintains its rating on Consolidated Edison. In the research note, the firm Lowers the price-target to $80.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Sep 14, 2016, Jefferies said it Upgrades its rating on Consolidated Edison. The shares have been rated ‘Buy’ by the firm. On Sep 14, 2016, Goldman Sachs said it Maintains its rating on Consolidated Edison. In the research note, the firm Lowers the price-target to $72.00 per share. The shares have been rated ‘Sell’ by the firm. Citigroup said it Initiates Coverage on Consolidated Edison, according to a research note issued on Aug 12, 2016. The shares have been rated ‘Neutral’ by the firm. On Jul 14, 2016, Jefferies said it Maintains its rating on Consolidated Edison. In the research note, the firm Raises the price-target to $77.00 per share. The shares have been rated ‘Hold’ by the firm.

Consolidated Edison (ED) shares turned negative on Fridays trading session with the shares closing down -1.23 points or -1.61% at a volume of 29,78,930. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $77.11. The peak price level was also seen at $77.11 while the days lowest was $74.79. Finally the shares closed at $75.3. The 52-week high of the shares is $81.88 while the 52-week low is $60.3. According to the latest information available, the market cap of the company is $22,922 M.

Consolidated Edison(ED) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.79B. Analysts had an estimated revenue of $2.78B. Earnings per share were $0.60. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Sep 15, 2016, John Mcavoy (Chairman, President & CEO) purchased 28 shares at $74.20 per share price.Also, 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).

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