Lynch Associatesin Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Lynch Associatesin reduced its stake in Consolidated Edison by 6.77% during the most recent quarter end. The investment management company now holds a total of 9,640 shares of Consolidated Edison which is valued at $698,900 after selling 700 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Consolidated Edison makes up approximately 0.31% of Lynch Associatesin’s portfolio.

Other Hedge Funds, Including ,

Consolidated Edison closed down -1.47 points or -1.98% at $72.77 with 25,53,591 shares getting traded on Tuesday. Post opening the session at $74.12, the shares hit an intraday low of $72.39 and an intraday high of $74.12 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2804.65.During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Consolidated Edison. Consolidated Edison was Upgraded by Jefferies to ” Buy” on Sep 14, 2016. Consolidated Edison was Initiated by Citigroup to “Neutral” on Aug 12, 2016. Company shares were Reiterated by Mizuho on Aug 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .

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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