Sun Sep 15 15:18:51 UTC 2024: ## GHP Investment Advisors Reduces Stake in Consolidated Edison

**New York, NY** – GHP Investment Advisors Inc. trimmed its position in Consolidated Edison, Inc. (NYSE: ED) by 26.5% during the second quarter, according to HoldingsChannel.com. The firm now owns 2,077 shares of the utilities provider valued at $186,000.

This move comes amidst a flurry of activity from other hedge funds regarding Consolidated Edison. Beacon Capital Management LLC significantly increased its stake by 2,307.7% in the first quarter, while Raleigh Capital Management Inc. and Tidemark LLC both purchased new positions in the fourth quarter. Pathway Financial Advisers LLC and Atlantic Edge Private Wealth Management LLC also acquired new positions in the first and fourth quarters, respectively.

Consolidated Edison has been the subject of several analyst reports recently. Guggenheim boosted their price objective to $91.00 and maintained a “neutral” rating, while Argus upgraded the stock to a “strong-buy.” UBS Group increased its price objective to $96.00 and kept a “neutral” rating, and Mizuho raised their target price to $95.00 with a “neutral” rating. Barclays, however, upped their price target to $98.00 while assigning an “underweight” rating. Overall, analysts currently maintain a consensus “Hold” rating with a target price of $92.65.

Consolidated Edison reported strong earnings for the second quarter, beating analyst expectations. The company posted $0.59 EPS, exceeding the estimated $0.57 by $0.02. Revenue also surpassed estimates, reaching $3.22 billion against an anticipated $3.08 billion.

The company recently declared a quarterly dividend of $0.83 per share, representing a $3.32 annualized dividend and a yield of 3.18%. This dividend will be paid on September 16th to shareholders of record as of August 14th.

Consolidated Edison is a major utilities provider in the United States, serving over 3.7 million electric customers, 1.1 million gas customers, and 1,530 steam customers in New York City and surrounding areas.

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