Jefferies Maintains Consolidated Edison to Hold with Price Target $80.00

Brokerage firm Jefferies Maintains its rating on Consolidated Edison(NYSE:ED). In a research note issued to the investors, the brokerage major Raises the price-target to $80.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Jul 14, 2016.

In a different note, On Apr 18, 2016, Deutsche Bank said it Downgrades its rating on Consolidated Edison. The shares have been rated ‘Sell’ by the firm.

Consolidated Edison (ED) shares turned negative on Mondays trading session with the shares closing down -0.09 points or -0.11% at a volume of 15,78,080. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $79.68. The peak price level was also seen at $79.68 while the days lowest was $78.8726. Finally the shares closed at $79.06. 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 $23,243 M.

Consolidated Edison(ED) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Earnings per share were $1.18. Analysts had estimated an EPS of $1.22.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Saumil P Shukla (SVP, Utility Shared Services) purchased 45 shares at $76.85 per share price.Also, On Jul 6, 2016, Frances Resheske (SVP, Corporate Affairs) purchased 1 shares at $80.05 per share price.On Jul 6, 2016, Joseph P Oates (SVP, Corporate Shared Services) purchased 22 shares at $76.85 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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