Consolidated Edison, Inc. (NYSE:ED) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 26.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,077 shares of the utilities provider’s stock after selling 750 shares during the period. GHP Investment Advisors Inc.’s holdings in Consolidated Edison were worth $186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Syon Capital LLC lifted its holdings in shares of Consolidated Edison by 2.3% in the 4th quarter. Syon Capital LLC now owns 5,954 shares of the utilities provider’s stock valued at $542,000 after buying an additional 136 shares during the period. G&S Capital LLC lifted its holdings in Consolidated Edison by 1.6% in the first quarter. G&S Capital LLC now owns 8,747 shares of the utilities provider’s stock valued at $794,000 after acquiring an additional 139 shares during the period. Checchi Capital Advisers LLC boosted its position in Consolidated Edison by 2.6% in the 2nd quarter. Checchi Capital Advisers LLC now owns 5,627 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 141 shares in the last quarter. Center For Asset Management LLC grew its stake in shares of Consolidated Edison by 3.5% during the 2nd quarter. Center For Asset Management LLC now owns 4,358 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 147 shares during the period. Finally, Pinnacle West Asset Management Inc. increased its holdings in shares of Consolidated Edison by 5.1% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 3,075 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 148 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.1 %

Shares of ED opened at $104.56 on Friday. The firm’s fifty day moving average is $98.73 and its two-hundred day moving average is $94.10. The stock has a market cap of $36.19 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 3.50 and a beta of 0.36. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 52-week low of $80.46 and a 52-week high of $105.99.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. During the same period in the previous year, the business posted $0.61 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.18%. Consolidated Edison’s payout ratio is 63.72%.

Analysts Set New Price Targets

ED has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Bank of America raised their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Finally, UBS Group upped their target price on Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $92.65.

Consolidated Edison Company 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.