Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.3% during the 4th quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Retirement Group LLC boosted its position in shares of Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares in the last quarter. Financial Gravity Asset Management Inc. boosted its position in shares of Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Level Financial Advisors Inc. bought a new position in shares of Consolidated Edison during the 3rd quarter valued at about $26,000. Tyler Stone Wealth Management bought a new position in shares of Consolidated Edison during the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of several research reports. Scotiabank raised their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a research report on Tuesday, February 20th. KeyCorp upgraded shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Barclays raised their target price on shares of Consolidated Edison from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH began coverage on shares of Consolidated Edison in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 target price for the company. Finally, UBS Group decreased their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $87.96.

Consolidated Edison Price Performance

Shares of ED opened at $91.77 on Friday. The firm has a market cap of $31.71 billion, a PE ratio of 12.78, a PEG ratio of 8.57 and a beta of 0.35. The firm’s 50 day moving average price is $88.97 and its 200 day moving average price is $89.62. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $100.92.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed 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. This represents a $3.32 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, May 14th. Consolidated Edison’s payout ratio is presently 46.24%.

About Consolidated Edison

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.