94,950 Shares in Consolidated Edison Inc $ED Purchased by Greenland Capital Management LP

Key Points

• Greenland Capital Management bought 94,950 shares of Consolidated Edison worth approximately $10.5 million, making ED its 15th-largest holding and 1.3% of its portfolio.
• Consolidated Edison reported quarterly EPS of $0.83, exceeding the $0.76 analyst consensus, while revenue reached $4.07 billion versus estimates of $3.60 billion.
• The company declared a quarterly dividend of $0.8875 per share, equivalent to a $3.55 annualized payout and a 3.3% yield. Analysts’ consensus rating remains “Reduce,” with an average price target of $108.93.

Greenland Capital Management LP acquired a new position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 94,950 shares of the utilities provider's stock, valued at approximately $10,504,000. Consolidated Edison makes up 1.3% of Greenland Capital Management LP's holdings, making the stock its 15th largest position.

Other hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC lifted its position in shares of Consolidated Edison by 72.8% in the second quarter. Ameritas Advisory Services LLC now owns 14,321 shares of the utilities provider's stock valued at $1,584,000 after acquiring an additional 6,032 shares in the last quarter. Kintra Wealth LLC purchased a new stake in shares of Consolidated Edison during the second quarter worth approximately $236,000. HB Wealth Management LLC increased its position in shares of Consolidated Edison by 11.6% during the second quarter. HB Wealth Management LLC now owns 20,890 shares of the utilities provider's stock worth $2,311,000 after purchasing an additional 2,172 shares in the last quarter. Nilsine Partners LLC acquired a new position in Consolidated Edison in the 2nd quarter valued at $203,000. Finally, Saudi Central Bank raised its stake in Consolidated Edison by 93.6% in the 2nd quarter. Saudi Central Bank now owns 25,790 shares of the utilities provider's stock valued at $2,853,000 after purchasing an additional 12,467 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Price Performance

NYSE:ED opened at $107.26 on Monday. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a market cap of $39.67 billion, a PE ratio of 17.61, a P/E/G ratio of 3.71 and a beta of 0.27. The stock has a 50 day moving average price of $109.78 and a 200 day moving average price of $109.77.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same quarter in the previous year, the company posted $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison Inc will post 6.1 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Evercore restated a "positive" rating and issued a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Mizuho set a $114.00 target price on shares of Consolidated Edison in a report on Monday, July 27th. Wells Fargo & Company increased their target price on shares of Consolidated Edison from $106.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Argus set a $112.00 price target on shares of Consolidated Edison in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group restated a "sell" rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $108.93.

Consolidated Edison Profile

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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