Diamant Asset Management Inc. Purchases 558,096 Shares of Consolidated Edison Inc $ED

Diamant Asset Management Inc. boosted its position in Consolidated Edison Inc (NYSE:ED) by 11,218.0% in the 1st quarter, HoldingsChannel reports. The firm owned 563,071 shares of the utilities provider’s stock after acquiring an additional 558,096 shares during the period. Diamant Asset Management Inc.’s holdings in Consolidated Edison were worth $63,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC raised its stake in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares during the period. Empowered Funds LLC boosted its stake in shares of Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after acquiring an additional 2,659 shares during the period. Woodline Partners LP boosted its stake in shares of Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock worth $3,237,000 after acquiring an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Consolidated Edison during the 2nd quarter worth approximately $3,256,000. Finally, Baird Financial Group Inc. increased its holdings in shares of Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider’s stock worth $1,473,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ED shares. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Mizuho reissued a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Evercore set a $116.00 price objective on shares of Consolidated Edison in a research report on Monday, May 11th. Finally, KeyCorp raised their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Stock Performance

ED opened at $111.99 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The business has a fifty day simple moving average of $107.58 and a 200 day simple moving average of $107.14. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market capitalization of $41.27 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.27.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the business earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were paid a $0.8875 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s payout ratio is 59.76%.

Consolidated Edison Company 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.