Calamos Advisors LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,287 shares of the utilities provider’s stock after selling 1,876 shares during the period. Calamos Advisors LLC’s holdings in Consolidated Edison were worth $10,520,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1 North Wealth Services LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $28,000. Golden State Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter valued at approximately $32,000. Quest Capital Management Inc. ADV acquired a new stake in Consolidated Edison in the third quarter valued at approximately $35,000. Salomon & Ludwin LLC acquired a new stake in Consolidated Edison in the second quarter valued at approximately $36,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Consolidated Edison in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 59.94% of the company’s stock.
A number of analysts have weighed in on the stock. Guggenheim lowered shares of Consolidated Edison from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Consolidated Edison from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Monday, December 16th. Credit Suisse Group dropped their price target on shares of Consolidated Edison from $90.00 to $89.00 and set an “underperform” rating for the company in a research note on Tuesday, November 5th. Barclays downgraded shares of Consolidated Edison from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $95.00 to $88.00 in a research note on Wednesday, November 27th. Finally, Bank of America raised their price target on shares of Consolidated Edison from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $91.41.
Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.04). The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a net margin of 10.98% and a return on equity of 7.92%. During the same period in the previous year, the business posted $1.57 EPS. As a group, sell-side analysts forecast that Consolidated Edison, Inc. will post 4.32 earnings per share for the current fiscal year.
Consolidated Edison Profile
Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.
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