why Consolidated Edison Inc. [ED] is a Good Choice for Investors After New Price Target of $77.94

Consolidated Edison Inc. [NYSE: ED] stock went on an upward path that rose over 1.93% on Tuesday, amounting to a one-week price decrease of less than -2.08%. The company report on October 30, 2020 that Scott+Scott Attorneys at Law LLP Continues to Investigate Consolidated Edison, Inc.’s Directors and Officers for Breach of Fiduciary Duties – ED.

Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues investigating whether certain directors and officers of Consolidated Edison, Inc. (“ConEd”) (NYSE: ED) breached their fiduciary duties to ConEd and its shareholders. If you are a ConEd shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.

Scott+Scott is investigating whether ConEd’s board of directors or senior management failed to manage ConEd in an acceptable manner, in breach of their fiduciary duties to ConEd, and whether ConEd has suffered damages as a result.

Over the last 12 months, ED stock dropped by -9.56%. The one-year Consolidated Edison Inc. stock forecast points to a potential downside of -4.34. The average equity rating for ED stock is currently 3.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $27.64 billion, with 334.10 million shares outstanding and 333.94 million shares in the current float. Compared to the average trading volume of 2.15M shares, ED stock reached a trading volume of 1718012 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Consolidated Edison Inc. [ED]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ED shares is $77.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ED stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Consolidated Edison Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on October 20, 2020. The new note on the price target was released on October 15, 2020, representing the official price target for Consolidated Edison Inc. stock. Previously, the target price had yet another raise to $73, while Guggenheim analysts kept a Neutral rating on ED stock.

The Average True Range (ATR) for Consolidated Edison Inc. is set at 1.73, with the Price to Sales ratio for ED stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 3.37. Price to Free Cash Flow for ED in the course of the last twelve months was 14.68 with Quick ratio for the last quarter at 0.60.

ED Stock Performance Analysis:

Consolidated Edison Inc. [ED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.08. With this latest performance, ED shares gained by 1.74% in over the last four-week period, additionally plugging by 9.33% over the last 6 months – not to mention a drop of -9.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ED stock in for the last two-week period is set at 56.85, with the RSI for the last a single of trading hit 55.25, and the three-weeks RSI is set at 57.28 for Consolidated Edison Inc. [ED]. The present Moving Average for the last 50 days of trading for this stock 77.13, while it was recorded at 79.90 for the last single week of trading, and 78.97 for the last 200 days.

Insight into Consolidated Edison Inc. Fundamentals:

Consolidated Edison Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

ED Stock EPS

With the latest financial reports released by the company, Consolidated Edison Inc. posted 1.54/share EPS, while the average EPS was predicted by analysts to be reported at 1.58/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ED. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Consolidated Edison Inc. go to 2.55%.

Consolidated Edison Inc. [ED] Insider Position Details

There are presently around $16,443 million, or 62.50% of ED stock, in the hands of institutional investors. The top three institutional holders of ED stocks are: BLACKROCK INC. with ownership of 33,382,531, which is approximately -0.109% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 28,499,882 shares of the stock with an approximate value of $2.32 billion in ED stocks shares; and STATE STREET CORP, currently with $1.77 billion in ED stock with ownership of nearly -5.271% of the company’s market capitalization.

371 institutional holders increased their position in Consolidated Edison Inc. [NYSE:ED] by around 14,186,574 shares. Additionally, 428 investors decreased positions by around 15,581,771 shares, while 191 investors held positions by with 172,436,944 shares. The mentioned changes placed institutional holdings at 202,205,289 shares, according to the latest SEC report filing. ED stock had 81 new institutional investments in for a total of 3,335,994 shares, while 94 institutional investors sold positions of 1,443,441 shares during the same period.

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