The Attractiveness of Investing In Consolidated Edison Inc. (ED) is Growing


Consolidated Edison Inc.’s recent filing unveils that its Chairman, President & CEO Cawley Timothy acquired Company’s shares for reported $7592.0 on Feb 01. In the deal valued at $94.90 per share,80 shares were bought. As a result of this transaction, Cawley Timothy now holds 19,237 shares worth roughly $ 1.76 million.

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Then, Cawley Timothy bought 24 shares, generating $2,316 in total proceeds. Upon buying the shares at $95.31, the Chairman, President, CEO now owns 19,261 shares.

Before that, HOGLUND ROBERT N bought 24 shares. Consolidated Edison Inc. shares valued at $2,315 were divested by the SVP & CFO at a price of $95.31 per share. As a result of the transaction, HOGLUND ROBERT N now holds 44,074 shares, worth roughly $4.02 million.

Evercore ISI upgraded its Consolidated Edison Inc. [ED] rating to an In-line from a an Underperform in a research note published on Friday, January 24, 2023; the price target was increased to $92 from $76. PT values the company’s stock at a premium of 0.8 to its Friday closing price. A number of analysts have revised their coverage, including Mizuho’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Neutral”. BofA Securities also remained covering ED and has increased its forecast on November 30, 2022 with a “Neutral” recommendation from previously “an Underperform” rating. Guggenheim revised its rating on May 23, 2022. It rated ED as “a Neutral” which previously was an “a Sell”.

Price Performance Review of ED

On Friday, Consolidated Edison Inc. [NYSE:ED] saw its stock fall -0.35% to $91.26. On the same session, the stock had its day’s lowest price of $90.21, but rose to a high of $91.59. Over the last five days, the stock has lost -0.44%. Consolidated Edison Inc. shares have fallen nearly -4.25% since the year began. Nevertheless, the stocks have risen 8.13% over the past one year. While a 52-week high of $102.21 was reached on 01/11/23, a 52-week low of $78.10 was recorded on 02/16/23. SMA at 50 days reached $94.67, while 200 days put it at $94.01. A total of 1.89 million shares were traded, compared to the trading of 1.85 million shares in the previous session.

Levels Of Support And Resistance For ED Stock

The 24-hour chart illustrates a support level at 90.45, which if violated will result in even more drops to 89.64. On the upside, there is a resistance level at 91.83. A further resistance level may holdings at 92.40. The Relative Strength Index (RSI) on the 14-day chart is 41.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.32%. Stochastics %K at 40.84% indicates the stock is a holding.

How much short interest is there in Consolidated Edison Inc.?

A steep rise in short interest was recorded in Consolidated Edison Inc. stocks on Jan 30, 2023, dropping by -0.75 million shares to a total of 6.37 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 7.12 million shares. There was a decline of -11.77%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.38% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.84.

Consolidated Edison Inc. [ED] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 41,729,295 shares, or roughly 11.76% of the outstanding ED shares. In other words, the investor’s shares have risen by 394,460 from its previous 13-F filing of 41334835.0. Additionally, BlackRock Fund Advisors increased 6.44% of its stake after which the total value it holdings stand at $2,758,850,408, while SSgA Funds Management, Inc. reduced -0.42% of its stake to hold $2.66 billion in the firm. Over the last quarter, BlackRock Advisors purchased 1,172,482 shares of Consolidated Edison Inc., while Geode Capital Management LLC bought 55,756 shares. At present, Legal & General Investment Manage is holding 4,886,071 shares valued at $465.69 million. Lazard Asset Management LLC owned 3,952,550 shares of the company at the time of its most recent 13F filing, worth $376.72 million.

According to FactSet, Consolidated Edison Inc.’s share price will average $88.85 in the next year, based on opinions of analysts polled by the firm. This is up nearly 0.46 percent from its previous closing price of $91.58. Analysts expect Consolidated Edison Inc. stock to reach the higher price of $103.00, while the lowest price estimate is $70.00. However, 17 analysts have rated ED stock as an Underweight in their predictions for 2023.


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