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Consolidated Edison (ED) Gets a Sell Rating from J.P. Morgan

J.P. Morgan analyst Jeremy Tonet maintained a Sell rating on Consolidated Edison (EDResearch Report) yesterday and set a price target of $83.00. The company’s shares closed last Thursday at $90.82.

According to TipRanks.com, Tonet is a 4-star analyst with an average return of 5.2% and a 54.5% success rate. Tonet covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Dcp Midstream Partners.

Consolidated Edison has an analyst consensus of Moderate Sell, with a price target consensus of $88.45, implying a -2.2% downside from current levels. In a report issued on July 19, KeyBanc also maintained a Sell rating on the stock with a $75.00 price target.

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The company has a one-year high of $101.12 and a one-year low of $71.52. Currently, Consolidated Edison has an average volume of 1.84M.

Based on the recent corporate insider activity of 153 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ED in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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