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Consolidated Edison (ED) Gets a Sell Rating from KeyBanc

KeyBanc analyst Sophie Karp maintained a Sell rating on Consolidated Edison (EDResearch Report) today and set a price target of $71.00. The company’s shares closed last Wednesday at $83.19, close to its 52-week high of $86.25.

According to TipRanks.com, Karp is a 4-star analyst with an average return of 10.1% and a 58.4% success rate. Karp covers the Utilities sector, focusing on stocks such as Public Service Enterprise, Pinnacle West Capital, and Centerpoint Energy.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Consolidated Edison with a $77.63 average price target.

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Based on Consolidated Edison’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.61 billion and net profit of $538 million. In comparison, last year the company earned revenue of $3.33 billion and had a net profit of $493 million.

Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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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