Consolidated Edison (ED) Gets a Buy Rating from Mizuho Securities

Mizuho Securities analyst Anthony Crowdell maintained a Buy rating on Consolidated Edison (EDResearch Report) yesterday and set a price target of $100.00. The company’s shares closed last Friday at $95.81, close to its 52-week high of $99.22.

According to TipRanks.com, Crowdell is a 4-star analyst with an average return of 4.2% and a 65.0% success rate. Crowdell covers the Utilities sector, focusing on stocks such as Pinnacle West Capital, Centerpoint Energy, and Dominion Energy.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Consolidated Edison with a $87.90 average price target.

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Based on Consolidated Edison’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.06 billion and net profit of $602 million. In comparison, last year the company earned revenue of $3.68 billion and had a net profit of $419 million.

Based on the recent corporate insider activity of 144 insiders, corporate insider sentiment is neutral on the stock.

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Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.

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