HHM Wealth Advisors LLC Has $165,000 Stock Position in Consolidated Edison, Inc. (NYSE:ED)

HHM Wealth Advisors LLC grew its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1,133.3% during the second quarter, Holdings Channel reports. The firm owned 1,850 shares of the utilities provider’s stock after purchasing an additional 1,700 shares during the period. HHM Wealth Advisors LLC’s holdings in Consolidated Edison were worth $165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ED. Principal Securities Inc. bought a new stake in Consolidated Edison during the fourth quarter worth about $411,000. Dimensional Fund Advisors LP grew its position in Consolidated Edison by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,126,595 shares of the utilities provider’s stock worth $102,484,000 after acquiring an additional 6,176 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Consolidated Edison by 34.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,742 shares of the utilities provider’s stock valued at $1,250,000 after purchasing an additional 3,494 shares in the last quarter. Ieq Capital LLC raised its position in Consolidated Edison by 5.9% in the 4th quarter. Ieq Capital LLC now owns 10,505 shares of the utilities provider’s stock valued at $956,000 after purchasing an additional 585 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Consolidated Edison by 4.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 5,466 shares of the utilities provider’s stock worth $497,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $103.76 on Thursday. The stock has a market cap of $35.88 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 3.49 and a beta of 0.36. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99. The stock’s 50-day moving average price is $98.13 and its two-hundred day moving average price is $93.86. 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 announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned $0.61 earnings per share. On average, equities analysts predict that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Wednesday, August 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ED shares. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Mizuho raised their price target on shares of Consolidated Edison from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Guggenheim upped their price objective on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays increased their price objective on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Finally, Morgan Stanley upped their price target on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $92.65.

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.