Consolidated Edison (ED) Receives a Hold from RBC Capital

In a report issued on May 9, Shelby Tucker from RBC Capital maintained a Hold rating on Consolidated Edison (EDResearch Report), with a price target of $89.00. The company’s shares closed last Tuesday at $92.65.

According to TipRanks.com, Tucker is a 5-star analyst with an average return of 10.3% and a 71.1% success rate. Tucker covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, Public Service Enterprise, and American Electric Power.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Consolidated Edison with a $87.91 average price target, implying a -6.9% downside from current levels. In a report issued on April 25, Credit Suisse also initiated coverage with a Hold rating on the stock with a $100.00 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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