Toronto Dominion Bank Has $11.05 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Toronto Dominion Bank decreased its stake in Consolidated Edison, Inc. (NYSE:ED) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,841 shares of the utilities provider’s stock after selling 29,092 shares during the period. Toronto Dominion Bank’s holdings in Consolidated Edison were worth $11,050,000 at the end of the most recent quarter.

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

Consolidated Edison Trading Up 0.3%

Shares of ED stock opened at $105.67 on Wednesday. Consolidated Edison, Inc. has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a 50 day simple moving average of $108.53 and a two-hundred day simple moving average of $99.88. The company has a market cap of $38.07 billion, a P/E ratio of 20.17, a PEG ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.05). The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. During the same quarter in the prior year, the business earned $2.15 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio is currently 62.85%.

Analysts Set New Price Targets

ED has been the subject of several recent research reports. Mizuho upped their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, April 9th. Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Finally, Barclays boosted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an “underweight” rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $104.36.

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.