Calamos Advisors LLC Has $10.52 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Calamos Advisors LLC cut its stake in Consolidated Edison, Inc. (NYSE:ED) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Consolidated Edison by 7.5% during the 2nd quarter. BlackRock Inc. now owns 31,370,484 shares of the utilities provider’s stock worth $2,750,563,000 after buying an additional 2,198,264 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Consolidated Edison by 2,416.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,501,642 shares of the utilities provider’s stock worth $131,665,000 after buying an additional 1,441,965 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Consolidated Edison by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 26,943,155 shares of the utilities provider’s stock worth $2,362,375,000 after buying an additional 781,260 shares during the last quarter. Luminus Management LLC acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $63,060,000. Finally, Zimmer Partners LP acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $57,848,000. 59.94% of the stock is owned by hedge funds and other institutional investors.

Shares of ED stock opened at $88.96 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.52 and a current ratio of 0.58. The firm’s 50-day moving average is $88.21 and its 200-day moving average is $89.06. The stock has a market cap of $29.18 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 9.68 and a beta of 0.04. Consolidated Edison, Inc. has a 52-week low of $75.25 and a 52-week high of $94.97.

Consolidated Edison (NYSE:ED) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.04). The firm had revenue of $3.37 billion during 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 company posted $1.57 earnings per share. Sell-side analysts predict that Consolidated Edison, Inc. will post 4.32 EPS for the current fiscal year.

A number of research firms have recently commented on ED. Bank of America increased their price objective on shares of Consolidated Edison from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. UBS Group reduced their price objective on shares of Consolidated Edison from $98.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Barclays downgraded shares of Consolidated Edison from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $95.00 to $88.00 in a research note on Wednesday, November 27th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Monday, December 16th. Finally, Credit Suisse Group reduced their price objective 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. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $91.41.

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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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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