Landscape Capital Management L.L.C. Takes Position in Consolidated Edison Inc $ED

Key Points

• Landscape Capital Management has acquired a stake in Consolidated Edison Inc, purchasing 6,340 shares valued at approximately $701,000 during the first quarter.
• The stock currently holds an average rating of "Hold" among analysts, with a target price of $105.82, following various upgrades and downgrades from equity research firms.
• Consolidated Edison recently declared a quarterly dividend of $0.85 per share, equating to an annualized dividend yield of 3.5% for shareholders.

Landscape Capital Management L.L.C. purchased a new stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,340 shares of the utilities provider's stock, valued at approximately $701,000.

Other hedge funds also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $32,000. Fort Vancouver Investment Management LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after buying an additional 120 shares during the last quarter. Finally, Elite Financial Inc. bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $38,000. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Bank of America lowered shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, Mizuho raised their price objective on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $105.82.

Consolidated Edison Price Performance

NYSE ED opened at $98.30 on Friday. The firm has a market capitalization of $35.45 billion, a PE ratio of 17.84, a P/E/G ratio of 2.73 and a beta of 0.24. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company's 50 day simple moving average is $101.36 and its 200 day simple moving average is $103.88. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the prior year, the company earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio is currently 61.71%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

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