Greenland Capital Management LP Buys New Stake in Consolidated Edison Inc $ED

Greenland Capital Management LP bought a new position in Consolidated Edison Inc (NYSE:ED) during the 2nd quarter, Holdings Channel reports. The fund bought 94,950 shares of the utilities provider’s stock, valued at approximately $10,504,000. Consolidated Edison accounts for about 1.3% of Greenland Capital Management LP’s portfolio, making the stock its 12th biggest holding.

Other hedge funds also recently bought and sold shares of the company. GW&K Investment Management LLC raised its position in shares of Consolidated Edison by 28.5% during the 4th quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. bLong Financial LLC lifted its holdings in shares of Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after acquiring an additional 100 shares during the last quarter. Sachetta LLC lifted its stake in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Consolidated Edison by 1.3% during the first quarter. Frank Rimerman Advisors LLC now owns 8,275 shares of the utilities provider’s stock valued at $937,000 after buying an additional 105 shares during the period. Finally, Venture Visionary Partners LLC boosted its position in shares of Consolidated Edison by 2.0% during the fourth quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock valued at $557,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. KeyCorp reduced their price objective on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating for the company in a research note on Thursday, July 23rd. The Goldman Sachs Group reissued a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Barclays lowered their price target on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Finally, Evercore restated a “positive” rating and issued a $112.00 target price on shares of Consolidated Edison in a research note on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $108.93.

Consolidated Edison Trading Down 1.7%

ED opened at $106.52 on Friday. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.27. The company’s 50 day simple moving average is $109.96 and its two-hundred day simple moving average is $109.88. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.27 and a quick ratio of 1.17.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the firm earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s payout ratio is presently 58.29%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.