Exclusive: Is Selling Consolidated Edison, Inc. Here a Winning Strategy?

Exclusive: Is Selling Consolidated Edison, Inc. Here a Winning Strategy?

The stock of Consolidated Edison, Inc. (NYSE:ED) is a huge mover today! The stock decreased 1.61% or $1.23 on September 30, hitting $75.3. About 2.98M shares traded hands or 73.26% up from the average. Consolidated Edison, Inc. (NYSE:ED) has risen 7.56% since February 29, 2016 and is uptrending. It has underperformed by 2.87% the S&P500.
The move comes after 9 months negative chart setup for the $22.73 billion company. It was reported on Oct, 1 by Barchart.com. We have $70.78 PT which if reached, will make NYSE:ED worth $1.36 billion less.

Analysts await Consolidated Edison, Inc. (NYSE:ED) to report earnings on November, 3. They expect $1.56 earnings per share, up 8.33% or $0.12 from last year’s $1.44 per share. ED’s profit will be $470.90M for 12.07 P/E if the $1.56 EPS becomes a reality. After $0.77 actual earnings per share reported by Consolidated Edison, Inc. for the previous quarter, Wall Street now forecasts 102.60% EPS growth.

Consolidated Edison, Inc. (NYSE:ED) Ratings Coverage

Out of 9 analysts covering Con Edison (NYSE:ED), 2 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 22% are positive. Con Edison has been the topic of 24 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, August 10 by Vetr. The stock has “Sell” rating given by UBS on Friday, August 14. The stock of Consolidated Edison, Inc. (NYSE:ED) earned “Equal-Weight” rating by Barclays Capital on Wednesday, September 21. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Sell” rating given on Monday, August 10 by Deutsche Bank. Mizuho initiated Consolidated Edison, Inc. (NYSE:ED) rating on Wednesday, July 29. Mizuho has “Neutral” rating and $64 price target. The stock of Consolidated Edison, Inc. (NYSE:ED) earned “Buy” rating by Jefferies on Wednesday, September 14. Vetr downgraded the shares of ED in a report on Monday, August 17 to “Hold” rating. BMO Capital Markets maintained the stock with “Market Perform” rating in Monday, August 10 report. UBS maintained the stock with “Sell” rating in Monday, February 22 report. The stock of Consolidated Edison, Inc. (NYSE:ED) has “Neutral” rating given on Friday, August 12 by Citigroup.

According to Zacks Investment Research, “Consolidated Edison, Inc. is one of the nation’s largest investor-owned energy companies. The company provides a wide range of energy- related products and services to its customers through regulated utility subsidiaries and competitive energy and telecommunications businesses.”

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.12, from 1.3 in 2016Q1. The ratio is positive, as 48 funds sold all Consolidated Edison, Inc. shares owned while 183 reduced positions. 58 funds bought stakes while 269 increased positions. They now own 162.41 million shares or 0.62% more from 161.41 million shares in 2016Q1.
Palladium Limited Liability has 31,673 shares for 0.23% of their US portfolio. Guardian owns 584 shares or 0% of their US portfolio. Farr Miller Washington Ltd Liability Corp Dc holds 0.05% of its portfolio in Consolidated Edison, Inc. (NYSE:ED) for 5,218 shares. Wedge Capital L Limited Partnership Nc holds 170,891 shares or 0.14% of its portfolio. Twin Capital Mgmt holds 0.09% of its portfolio in Consolidated Edison, Inc. (NYSE:ED) for 14,930 shares. Charter Trust Com last reported 12,916 shares in the company. Regentatlantic Capital Ltd Llc holds 1.02% or 131,566 shares in its portfolio. The United Kingdom-based Aviva Public Limited Liability Corporation has invested 0.1% in Consolidated Edison, Inc. (NYSE:ED). Blair William And Comm Il accumulated 0.01% or 7,595 shares. Strategic Ltd Co holds 1.1% of its portfolio in Consolidated Edison, Inc. (NYSE:ED) for 23,714 shares. Massmutual Tru Fsb Adv holds 754 shares or 0% of its portfolio. Bath Savings Trust Co accumulated 0.08% or 3,341 shares. Manchester Cap Mgmt has 36 shares for 0% of their US portfolio. Texas Yale Capital accumulated 0.1% or 13,075 shares. Piedmont Inv Lc accumulated 0% or 8 shares.

Insider Transactions: Since March 31, 2016, the stock had 45 buys, and 0 sales for $111,177 net activity. Muccilo Robert also bought $1,989 worth of Consolidated Edison, Inc. (NYSE:ED) on Tuesday, May 31. HOGLUND ROBERT N also bought $2,284 worth of Consolidated Edison, Inc. (NYSE:ED) on Tuesday, May 31. Cawley Timothy bought $2,314 worth of Consolidated Edison, Inc. (NYSE:ED) on Wednesday, August 31. $2,122 worth of shares were bought by McAvoy John on Friday, April 15. Moore Elizabeth D had bought 30 shares worth $2,210. RESHESKE FRANCES also bought $74 worth of Consolidated Edison, Inc. (NYSE:ED) on Thursday, March 31. Ivey Craig S bought 65 shares worth $4,995.

ED Company Profile

Consolidated Edison, Inc. (Con Edison), incorporated on September 3, 1997, is a holding company. The Firm operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and Con Edison Transmission, Inc. The Firm owns competitive energy businesses. Con Edison also owns Con Edison Transmission, Inc. (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

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