Monitoring Consolidated Edison Inc. (ED) after recent insider movements


Consolidated Edison Inc.’s recently made public that its Chairman, President & CEO Cawley Timothy acquired Company’s shares for reported $2316.0 on Jul 31. In the deal valued at $94.86 per share,24 shares were bought. As a result of this transaction, Cawley Timothy now holds 19,739 shares worth roughly $ 1.74 million.

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Then, HOGLUND ROBERT N bought 24 shares, generating $2,315 in total proceeds. Upon buying the shares at $94.86, the SVP & CFO now owns 44,458 shares.

Before that, Donnley Deneen L bought 24 shares. Consolidated Edison Inc. shares valued at $2,313 were divested by the SVP and General Counsel at a price of $94.86 per share. As a result of the transaction, Donnley Deneen L now holds 8,057 shares, worth roughly $0.71 million.

Barclays initiated its Consolidated Edison Inc. [ED] rating to an Equal weight in a research note published on Friday, August 23, 2023; the price target was $88. PT values the company’s stock at a premium of -0.4 to its Friday closing price.

Price Performance Review of ED

On Friday, Consolidated Edison Inc. [NYSE:ED] saw its stock fall -0.69% to $88.35. On the same session, the stock had its day’s lowest price of $87.28, but rose to a high of $89.45. Over the last five days, the stock has lost -1.70%. Consolidated Edison Inc. shares have fallen nearly -7.30% since the year began. Nevertheless, the stocks have fallen -9.61% over the past one year. While a 52-week high of $102.21 was reached on 04/25/23, a 52-week low of $78.10 was recorded on 03/01/23. SMA at 50 days reached $91.69, while 200 days put it at $94.21. A total of 1.57 million shares were traded, compared to the trading of 1.84 million shares in the previous session.

Levels Of Support And Resistance For ED Stock

The 24-hour chart illustrates a support level at 87.27, which if violated will result in even more drops to 86.19. On the upside, there is a resistance level at 89.44. A further resistance level may holdings at 90.53. The Relative Strength Index (RSI) on the 14-day chart is 39.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.77%. Stochastics %K at 44.31% 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 Aug 14, 2023, growing by 0.63 million shares to a total of 6.5 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.87 million shares. There was a rise of 9.69%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.46.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 40,958,601 shares, or roughly 11.82% of the outstanding ED shares. In other words, the investor’s shares have fallen by -1,186,453 from its previous 13-F filing of 42145054.0. Additionally, BlackRock Fund Advisors decreased -3.15% of its stake after which the total value it holdings stand at $2,566,992,421, while SSgA Funds Management, Inc. reduced -3.35% of its stake to hold $2.38 billion in the firm. Over the last quarter, Geode Capital Management LLC purchased 43,516 shares of Consolidated Edison Inc., while BlackRock Advisors bought -367,562 shares. At present, Legal & General Investment Manage is holding 4,953,788 shares valued at $469.92 million. BlackRock Investment Management owned 3,794,847 shares of the company at the time of its most recent 13F filing, worth $359.98 million.

According to FactSet, Consolidated Edison Inc.’s share price will average $88.86 in the next year, based on opinions of analysts polled by the firm. This is down nearly -1.08 percent from its previous closing price of $88.96. Analysts expect Consolidated Edison Inc. stock to reach the higher price of $103.00, while the lowest price estimate is $73.00.


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