Calamos Advisors LLC grew its position in Consolidated Edison Inc (NYSE:ED) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,172 shares of the utilities provider’s stock after purchasing an additional 1,116 shares during the period. Calamos Advisors LLC’s holdings in Consolidated Edison were worth $3,328,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ED. Armbruster Capital Management Inc. increased its holdings in shares of Consolidated Edison by 127.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after acquiring an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. increased its holdings in shares of Consolidated Edison by 138.3% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 795 shares during the last quarter. Oakworth Capital Inc. increased its holdings in shares of Consolidated Edison by 10.5% during the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 137 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in Consolidated Edison by 6.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 93 shares during the period. Finally, Cypress Capital Management LLC WY boosted its stake in Consolidated Edison by 491.7% during the 2nd quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 1,475 shares during the period. 55.06% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Morgan Stanley raised their price objective on Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.63.
In other news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 471 shares of company stock valued at $39,202 over the last ninety days. 0.20% of the stock is currently owned by insiders.
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Consolidated Edison Inc (ED) opened at 81.59 on Friday. Consolidated Edison Inc has a 52-week low of $68.76 and a 52-week high of $86.16. The stock has a 50 day moving average price of $83.85 and a 200 day moving average price of $81.13. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 19.74 and a beta of 0.09.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the business earned $0.60 earnings per share. Analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, August 14th. Consolidated Edison’s dividend payout ratio is currently 66.67%.
Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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