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

GHP Investment Advisors Inc. trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 26.5% during the 2nd quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC raised its position in shares of Consolidated Edison by 2,307.7% during the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after buying an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Consolidated Edison in the fourth quarter valued at $29,000. Tidemark LLC purchased a new stake in Consolidated Edison in the fourth quarter valued at $29,000. Pathway Financial Advisers LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at $33,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Consolidated Edison during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several research analyst reports. Guggenheim boosted their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. UBS Group increased their price objective on shares of Consolidated Edison from $92.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Mizuho boosted their target price on Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Barclays upped their price target on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.65.

Consolidated Edison Stock Up 1.1 %

Shares of NYSE ED opened at $104.56 on Friday. The stock has a market cap of $36.19 billion, a P/E ratio of 20.07, a PEG ratio of 3.50 and a beta of 0.36. The business’s fifty day simple moving average is $98.73 and its 200-day simple moving average is $94.10. Consolidated Edison, Inc. has a 12-month low of $80.46 and a 12-month high of $105.99. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

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

Consolidated Edison Dividend Announcement

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

About Consolidated Edison

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.