Greenland Capital Management LP Acquires Shares of 94,950 Consolidated Edison Inc $ED

by · The Markets Daily

Greenland Capital Management LP bought a new position in shares of Consolidated Edison Inc (NYSE:ED – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 94,950 shares of the utilities provider’s stock, valued at approximately $10,504,000. Consolidated Edison accounts for 1.3% of Greenland Capital Management LP’s portfolio, making the stock its 12th largest position.

Several other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its position in shares of Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. bLong Financial LLC lifted its position in Consolidated Edison by 1.3% during the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock valued at $772,000 after buying an additional 100 shares during the period. Sachetta LLC boosted its holdings in shares of Consolidated Edison by 72.9% during the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock valued at $27,000 after buying an additional 102 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Consolidated Edison by 1.3% during the 1st 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 in the last quarter. Finally, Venture Visionary Partners LLC increased its stake in shares of Consolidated Edison by 2.0% in the 4th quarter. Venture Visionary Partners LLC now owns 5,606 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $106.52 on Friday. The firm has a market capitalization of $39.39 billion, a PE ratio of 17.49, a P/E/G ratio of 2.76 and a beta of 0.27. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a 50 day moving average price of $109.96 and a 200-day moving average price of $109.88.

Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, topping 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 analyst estimates of $3.60 billion. During the same period in the prior year, the business posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

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

Wall Street Analyst Weigh In

ED has been the subject of several recent research reports. Barclays lowered their target price on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Mizuho set a $114.00 price objective on Consolidated Edison in a research report on Monday, July 27th. Wells Fargo & Company lifted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. The Goldman Sachs Group reissued a “sell” rating and issued a $105.00 target price on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Argus set a $112.00 price target on Consolidated Edison in a report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $108.93.

Read Our Latest Analysis on ED

About Consolidated Edison

(Free Report)

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.

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