Greenland Capital Management LP Sells 5,214 Shares of Consolidated Edison, Inc. (NYSE:ED)

Greenland Capital Management LP cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,806 shares of the utilities provider's stock after selling 5,214 shares during the period. Consolidated Edison comprises approximately 1.6% of Greenland Capital Management LP's investment portfolio, making the stock its 9th biggest position. Greenland Capital Management LP's holdings in Consolidated Edison were worth $9,709,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ED. AlphaMark Advisors LLC acquired a new position in Consolidated Edison during the 4th quarter worth approximately $27,000. Fairway Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth $36,000. OFI Invest Asset Management acquired a new position in shares of Consolidated Edison during the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new position in shares of Consolidated Edison in the 4th quarter valued at $39,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley upped their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. UBS Group lifted their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Mizuho upped their price target on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Scotiabank lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and an average price target of $102.80.

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Consolidated Edison Trading Up 1.4 %

NYSE ED traded up $1.52 during mid-day trading on Friday, reaching $109.82. 2,617,191 shares of the stock were exchanged, compared to its average volume of 2,226,843. The stock has a market cap of $39.56 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The stock has a 50 day simple moving average of $103.19 and a 200-day simple moving average of $98.91.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.01. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. Consolidated Edison's dividend payout ratio is presently 64.89%.

Consolidated Edison Company Profile

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.