Calamos Advisors LLC Cuts Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Calamos Advisors LLC lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 117,751 shares of the utilities provider’s stock after selling 1,538 shares during the period. Calamos Advisors LLC’s holdings in Consolidated Edison were worth $10,712,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ED. IHT Wealth Management LLC raised its stake in shares of Consolidated Edison by 1.4% during the fourth quarter. IHT Wealth Management LLC now owns 7,941 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 110 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Consolidated Edison by 0.3% during the first quarter. Lido Advisors LLC now owns 43,881 shares of the utilities provider’s stock valued at $4,198,000 after acquiring an additional 113 shares in the last quarter. Retirement Group LLC increased its holdings in Consolidated Edison by 74.8% during the fourth quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after buying an additional 116 shares during the period. Brinker Capital Investments LLC increased its holdings in Consolidated Edison by 1.2% during the first quarter. Brinker Capital Investments LLC now owns 9,592 shares of the utilities provider’s stock valued at $908,000 after buying an additional 117 shares during the period. Finally, MGO One Seven LLC increased its holdings in Consolidated Edison by 2.1% during the third quarter. MGO One Seven LLC now owns 5,727 shares of the utilities provider’s stock valued at $490,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of several research reports. Scotiabank lifted their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada cut their price objective on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. LADENBURG THALM/SH SH initiated coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. UBS Group cut their price objective on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $87.96.

Consolidated Edison Price Performance

Shares of ED opened at $91.77 on Friday. The firm has a market capitalization of $31.71 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 8.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 0.94. Consolidated Edison, Inc. has a 1-year low of $80.46 and a 1-year high of $100.92. The company’s fifty day moving average price is $88.97 and its 200-day moving average price is $89.62.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts predict that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.62%. Consolidated Edison’s dividend payout ratio is presently 46.24%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.