GHP Investment Advisors Inc. Lowers Holdings in Consolidated Edison, Inc. (NYSE:ED)

GHP Investment Advisors Inc. reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924 shares of the utilities provider’s stock after selling 153 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Consolidated Edison were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beacon Capital Management LLC grew its stake in Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison during the first quarter valued at about $33,000. TruNorth Capital Management LLC bought a new stake in shares of Consolidated Edison in the second quarter worth about $33,000. Versant Capital Management Inc lifted its position in shares of Consolidated Edison by 380.2% in the second quarter. Versant Capital Management Inc now owns 413 shares of the utilities provider’s stock worth $37,000 after buying an additional 327 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Consolidated Edison during the third quarter valued at approximately $55,000. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ED. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their target price on shares of Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Consolidated Edison in a research note on Wednesday, October 9th. They set a “hold” rating and a $108.00 price target on the stock. Bank of America lifted their price objective on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison Stock Down 2.2 %

Shares of NYSE ED opened at $104.60 on Monday. The company has a market cap of $36.17 billion, a P/E ratio of 20.08, a PEG ratio of 3.57 and a beta of 0.36. The firm has a 50-day simple moving average of $103.35 and a two-hundred day simple moving average of $97.25. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.04 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period last year, the company earned $0.61 EPS. Research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 63.72%.

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.