GHP Investment Advisors Inc. Sells 190 Shares of Consolidated Edison, Inc. (NYSE:ED)

GHP Investment Advisors Inc. trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,827 shares of the utilities provider’s stock after selling 190 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Consolidated Edison were worth $166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. raised its holdings in shares of Consolidated Edison by 215.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 194 shares in the last quarter. Level Financial Advisors Inc. purchased a new stake in shares of Consolidated Edison in the 3rd quarter valued at about $26,000. Retirement Group LLC raised its holdings in shares of Consolidated Edison by 74.8% in the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 116 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Consolidated Edison in the 2nd quarter valued at about $28,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Consolidated Edison in the 4th quarter valued at about $29,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ED shares. UBS Group lowered their price target on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Scotiabank raised their price target on Consolidated Edison from $90.00 to $91.00 and gave the company a “sector underperform” rating in a report on Tuesday, February 20th. KeyCorp raised Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Royal Bank of Canada decreased their price objective on Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a report on Friday, February 16th. Finally, LADENBURG THALM/SH SH initiated coverage on Consolidated Edison in a report on Wednesday, January 3rd. They set a “neutral” rating and a $92.50 price objective on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $87.96.

Consolidated Edison Price Performance

Shares of ED stock opened at $88.63 on Friday. The firm has a market cap of $30.62 billion, a P/E ratio of 12.34, a P/E/G ratio of 8.35 and a beta of 0.35. Consolidated Edison, Inc. has a fifty-two week low of $80.46 and a fifty-two week high of $100.92. The business’s 50 day moving average price is $88.91 and its 200-day moving average price is $89.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, February 15th. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. On average, equities research analysts anticipate that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Wednesday, February 14th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, February 13th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.81. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

Consolidated Edison 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.