Greenland Capital Management LP Invests $2.73 Million in Consolidated Edison Inc $ED

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

Several other large investors have also added to or reduced their stakes in ED. Norges Bank acquired a new position in Consolidated Edison in the second quarter valued at approximately $462,218,000. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after buying an additional 1,923,717 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Consolidated Edison by 2,190.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after acquiring an additional 935,463 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Consolidated Edison during the 3rd quarter valued at $60,497,000. Finally, Geode Capital Management LLC lifted its position in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $112.01 on Tuesday. 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 firm has a market cap of $40.46 billion, a PE ratio of 19.83, a P/E/G ratio of 2.98 and a beta of 0.38. The business has a 50 day moving average of $104.03 and a 200-day moving average of $100.91. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $115.25.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ED shares. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a research report on Monday. KeyCorp dropped their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. UBS Group raised their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Finally, Wells Fargo & Company cut their target price on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $106.40.

Insider Transactions at Consolidated Edison

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 shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

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.