Calamos Wealth Management LLC Invests $551,000 in Consolidated Edison Inc $ED

Key Points

• Calamos Wealth Management LLC has invested $551,000 in 5,488 shares of Consolidated Edison Inc, enhancing its position in the utilities sector.
• Consolidated Edison is set to pay a quarterly dividend of $0.85 per share on December 15, representing an annualized yield of 3.4%.
• Analysts have varied opinions on the stock, with a consensus rating of "Reduce" and a target price set at $105.92.

Calamos Wealth Management LLC acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,488 shares of the utilities provider's stock, valued at approximately $551,000.

Several other large investors also recently modified their holdings of ED. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares during the period. GAMMA Investing LLC grew its position in shares of Consolidated Edison by 45.0% during the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider's stock worth $1,022,000 after buying an additional 2,869 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Consolidated Edison by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after buying an additional 6,869 shares during the period. ORG Partners LLC grew its position in shares of Consolidated Edison by 81.9% during the 1st quarter. ORG Partners LLC now owns 1,723 shares of the utilities provider's stock worth $191,000 after buying an additional 776 shares during the period. Finally, Garde Capital Inc. bought a new position in shares of Consolidated Edison in the 1st quarter worth $49,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an "underweight" rating in a report on Wednesday. Evercore ISI assumed coverage on Consolidated Edison in a report on Tuesday, October 7th. They issued an "in-line" rating and a $106.00 target price on the stock. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and cut their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Finally, Morgan Stanley cut their target price on Consolidated Edison from $95.00 to $93.00 and set an "underweight" rating on the stock in a report on Thursday, September 25th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $105.92.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $101.14 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock's fifty day simple moving average is $99.41 and its two-hundred day simple moving average is $102.69. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a market cap of $36.48 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

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.

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