Greenland Capital Management LP Makes New Investment in Consolidated Edison Inc $ED

Greenland Capital Management LP bought a new stake in Consolidated Edison Inc (NYSE:ED) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,141 shares of the utilities provider’s stock, valued at approximately $2,728,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC increased its holdings in Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 219 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Consolidated Edison during the third quarter worth about $38,000. True Wealth Design LLC increased its stake in shares of Consolidated Edison by 392.1% in the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 396 shares in the last quarter. Webster Bank N. A. raised its position in shares of Consolidated Edison by 67.8% in the third quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of Consolidated Edison in the second quarter valued at approximately $52,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ED shares. UBS Group lifted their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Wells Fargo & Company reduced their price target on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Mizuho set a $118.00 price objective on Consolidated Edison in a research note on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. Finally, TD Cowen started coverage on Consolidated Edison in a report on Friday, January 9th. They set a “hold” rating and a $105.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $106.40.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $112.01 on Tuesday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.25. The business has a 50-day simple moving average of $104.03 and a 200 day simple moving average of $100.91. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.98 and a beta of 0.38.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s payout ratio is currently 62.83%.

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.