Toronto Dominion Bank Buys 31,305 Shares of Consolidated Edison, Inc. (NYSE:ED)

Toronto Dominion Bank lifted its holdings in shares of Consolidated Edison, Inc. (NYSE:EDGet Rating) by 17.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 207,607 shares of the utilities provider’s stock after purchasing an additional 31,305 shares during the period. Toronto Dominion Bank’s holdings in Consolidated Edison were worth $17,712,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in Consolidated Edison by 3.8% during the 1st quarter. FMR LLC now owns 181,081 shares of the utilities provider’s stock valued at $15,357,000 after acquiring an additional 6,640 shares during the period. WINTON GROUP Ltd lifted its position in Consolidated Edison by 41.1% during the 3rd quarter. WINTON GROUP Ltd now owns 7,803 shares of the utilities provider’s stock valued at $566,000 after acquiring an additional 2,272 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Consolidated Edison by 4.5% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 9,922 shares of the utilities provider’s stock valued at $720,000 after acquiring an additional 426 shares during the period. Commonwealth Equity Services LLC lifted its position in Consolidated Edison by 0.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 391,204 shares of the utilities provider’s stock valued at $28,397,000 after acquiring an additional 3,165 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in Consolidated Edison by 2.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 27,250 shares of the utilities provider’s stock valued at $1,978,000 after acquiring an additional 600 shares during the period. 62.01% of the stock is currently owned by institutional investors.

In other news, Director John Mcavoy sold 74,715 shares of Consolidated Edison stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $84.69, for a total transaction of $6,327,613.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders acquired 512 shares of company stock valued at $46,801. 0.17% of the stock is owned by insiders.

Shares of ED stock traded down $0.72 during mid-day trading on Monday, reaching $97.31. 14,958 shares of the company’s stock traded hands, compared to its average volume of 2,192,615. Consolidated Edison, Inc. has a 12 month low of $71.17 and a 12 month high of $98.65. The firm has a 50 day moving average price of $89.87 and a two-hundred day moving average price of $83.63. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.94 and a current ratio of 1.02. The firm has a market capitalization of $34.47 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 10.96 and a beta of 0.22.

Consolidated Edison (NYSE:EDGet Rating) last issued its earnings results on Thursday, February 17th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. Consolidated Edison had a net margin of 9.84% and a return on equity of 7.63%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, equities analysts expect that Consolidated Edison, Inc. will post 4.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Wednesday, February 16th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.25%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, February 15th. Consolidated Edison’s dividend payout ratio is currently 82.08%.

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Consolidated Edison from $65.00 to $83.00 and gave the stock a “sell” rating in a research note on Thursday, March 31st. Mizuho boosted their price objective on shares of Consolidated Edison from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, March 10th. Guggenheim lowered shares of Consolidated Edison from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $77.00 to $71.00 in a report on Thursday, January 20th. KeyCorp boosted their price objective on shares of Consolidated Edison from $65.00 to $71.00 and gave the stock an “underweight” rating in a report on Thursday, January 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Consolidated Edison from $78.00 to $87.00 and gave the stock an “equal weight” rating in a report on Monday, January 31st. Seven analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.42.

About Consolidated Edison (Get Rating)

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 3.5 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 1,555 customers in parts of Manhattan.

Further Reading

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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