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

Diamant Asset Management Inc. increased its stake in Consolidated Edison Inc (NYSE:ED) by 11,218.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 563,071 shares of the utilities provider’s stock after purchasing an additional 558,096 shares during the period. Diamant Asset Management Inc. owned approximately 0.15% of Consolidated Edison worth $63,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in shares of Consolidated Edison in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC acquired a new position in shares of Consolidated Edison during the fourth quarter worth about $27,000. Westfuller Advisors LLC bought a new position in shares of Consolidated Edison during the fourth quarter worth about $27,000. Finally, Dorato Capital Management bought a new position in shares of Consolidated Edison during the fourth quarter worth about $28,000. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ED shares. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday, May 11th. KeyCorp raised their price target 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. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. 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. Finally, Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $108.07.

Consolidated Edison Stock Up 1.1%

ED stock opened at $111.99 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average price of $107.58 and a two-hundred day moving average price of $107.14. The company has a market cap of $41.27 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.84 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 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.