Calamos Advisors LLC Buys 10,433 Shares of Consolidated Edison Inc $ED

Key Points

• Calamos Advisors LLC increased its stake in Consolidated Edison by 9.9% in the first quarter, buying 10,433 additional shares and bringing its total holding to 115,546 shares worth about $13.1 million.
• Consolidated Edison pays a steady dividend, recently distributing $0.8875 per share, or $3.55 annualized, for a yield of 3.2%. Its dividend payout ratio stands at 59.76%.
• Wall Street sentiment remains cautious on ED, with an average analyst rating of “Reduce” and a consensus price target of $108.07, slightly below the stock’s recent trading level of $112.11.

Calamos Advisors LLC boosted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,546 shares of the utilities provider's stock after acquiring an additional 10,433 shares during the quarter. Calamos Advisors LLC's holdings in Consolidated Edison were worth $13,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc raised its holdings in Consolidated Edison by 194.5% during the 3rd quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider's stock valued at $1,559,000 after buying an additional 10,044 shares during the last quarter. QRG Capital Management Inc. boosted its position in Consolidated Edison by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 204,989 shares of the utilities provider's stock valued at $23,201,000 after buying an additional 29,635 shares during the period. North Dakota State Investment Board purchased a new stake in Consolidated Edison during the 4th quarter valued at $1,228,000. Los Angeles Capital Management LLC grew its holdings in Consolidated Edison by 9.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 253,230 shares of the utilities provider's stock worth $24,865,000 after acquiring an additional 20,972 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in Consolidated Edison by 99.5% in the 3rd quarter. AIA Group Ltd now owns 46,786 shares of the utilities provider's stock worth $4,703,000 after acquiring an additional 23,337 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

NYSE:ED opened at $112.11 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The firm's fifty day simple moving average is $108.18 and its 200 day simple moving average is $108.39. The stock has a market cap of $41.31 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th were given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 59.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ED shares. Argus set a $112.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Weiss Ratings upgraded shares of Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. KeyCorp boosted their price target on Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a report on Tuesday, April 21st. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $108.07.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.

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