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Grab This Bargain Energy Stock Even Cheaper Than CEO McAvoy Did


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 31, Consolidated Edison Inc's CEO, John McAvoy, invested $2,315.58 into 29 shares of ED, for a cost per share of $78.96. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Consolidated Edison Inc (Symbol: ED) and achieve a cost basis even cheaper than McAvoy, with shares changing hands as low as $78.62 per share. Consolidated Edison Inc shares are currently trading off about 1.8% on the day. The chart below shows the one year performance of ED shares, versus its 200 day moving average:

Consolidated Edison Inc Chart

Looking at the chart above, ED's low point in its 52 week range is $71.12 per share, with $89.70 as the 52 week high point - that compares with a last trade of $78.64. By comparison, below is a table showing the prices at which ED insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
03/31/2018 Robert N. Hoglund SVP & CFO 116 $76.29 $8,884.73
03/31/2018 Gurudatta D. Nadkarni VP, Strategic Planning 91 $76.29 $6,972.91
03/31/2018 Robert Muccilo VP & Chief Accounting Officer 91 $76.29 $6,919.50
03/31/2018 Robert Sanchez President & CEO, O&R 50 $76.29 $3,831.28
03/31/2018 Saumil P. Shukla SVP, Utility Shared Services 52 $76.29 $3,964.79
04/30/2018 Robert N. Hoglund SVP & CFO 30 $77.95 $2,315.11
04/30/2018 Timothy Cawley President, CECONY 30 $77.95 $2,315.89
04/30/2018 John McAvoy Chairman, President & CEO 30 $77.95 $2,315.89
04/30/2018 Gurudatta D. Nadkarni VP, Strategic Planning 27 $77.95 $2,078.93
04/30/2018 Robert Muccilo VP & Chief Accounting Officer 26 $77.95 $2,000.20
04/30/2018 Robert Sanchez President & CEO, O&R 30 $77.95 $2,311.22
04/30/2018 Joseph P. Oates Chairman, President & CEO CET 7 $77.95 $555.78
04/30/2018 Elizabeth D. Moore SVP & General Counsel 29 $77.95 $2,222.35
05/31/2018 Robert N. Hoglund SVP & CFO 30 $76.72 $2,314.64
05/31/2018 Robert Muccilo VP & Chief Accounting Officer 26 $76.72 $2,000.09
05/31/2018 Elizabeth D. Moore SVP & General Counsel 29 $76.72 $2,222.58
05/31/2018 Joseph P. Oates Chairman, President & CEO CET 7 $76.72 $555.45
05/31/2018 Timothy Cawley President, CECONY 30 $76.72 $2,315.41
05/31/2018 John McAvoy Chairman, President & CEO 30 $76.72 $2,315.41
05/31/2018 Gurudatta D. Nadkarni VP, Strategic Planning 27 $76.72 $2,079.11
05/31/2018 Robert Sanchez President & CEO, O&R 30 $76.72 $2,310.81
06/30/2018 Saumil P. Shukla SVP, Utility Shared Services 54 $73.61 $4,005.78
06/30/2018 Robert Sanchez President & CEO, O&R 53 $73.61 $3,918.85
06/30/2018 Gurudatta D. Nadkarni VP, Strategic Planning 96 $73.61 $7,087.91
06/30/2018 Robert N. Hoglund SVP & CFO 123 $73.61 $9,024.95
06/30/2018 Robert Muccilo VP & Chief Accounting Officer 96 $73.61 $7,032.33
07/31/2018 Robert Muccilo VP & Chief Accounting Officer 26 $77.97 $2,000.09
07/31/2018 Elizabeth D. Moore SVP & General Counsel 29 $77.97 $2,222.30
07/31/2018 John McAvoy Chairman, President & CEO 30 $77.97 $2,315.63
07/31/2018 Robert N. Hoglund SVP & CFO 30 $77.97 $2,314.85
07/31/2018 Timothy Cawley President, CECONY 30 $77.97 $2,315.63
07/31/2018 Joseph P. Oates Chairman, President & CEO CET 7 $77.97 $555.61
07/31/2018 Robert Sanchez President & CEO, O&R 30 $77.97 $2,311.19
07/31/2018 Gurudatta D. Nadkarni VP, Strategic Planning 27 $77.97 $2,078.99
08/31/2018 Robert Muccilo VP & Chief Accounting Officer 25 $78.96 $1,999.98
08/31/2018 Elizabeth D. Moore SVP & General Counsel 28 $78.96 $2,222.25
08/31/2018 John McAvoy Chairman, President & CEO 29 $78.96 $2,315.58
08/31/2018 Robert N. Hoglund SVP & CFO 29 $78.96 $2,314.79
08/31/2018 Timothy Cawley President, CECONY 29 $78.96 $2,315.58
08/31/2018 Gurudatta D. Nadkarni VP, Strategic Planning 26 $78.96 $2,078.86
08/31/2018 Joseph P. Oates Chairman, President & CEO CET 7 $78.96 $555.56
08/31/2018 Robert Sanchez President & CEO, O&R 29 $78.96 $2,311.16

Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Commodities
Referenced Symbols: ED



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