Toronto Dominion Bank Increases Holdings in Consolidated Edison, Inc. (NYSE:ED)

Toronto Dominion Bank raised its stake in Consolidated Edison, Inc. (NYSE:ED) by 59.3% during the second quarter, HoldingsChannel reports. The fund owned 178,331 shares of the utilities provider’s stock after buying an additional 66,370 shares during the period. Toronto Dominion Bank’s holdings in Consolidated Edison were worth $15,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC raised its holdings in Consolidated Edison by 2,307.7% in the 1st quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Consolidated Edison in the 4th quarter worth $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Consolidated Edison in the first quarter worth $33,000. TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison during the second quarter valued at $33,000. Finally, Quarry LP purchased a new stake in shares of Consolidated Edison during the fourth quarter valued at $35,000. 66.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ED. Barclays boosted their target price on Consolidated Edison from $92.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Guggenheim increased their price objective on shares of Consolidated Edison from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Consolidated Edison from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Argus raised Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Hold” and an average target price of $93.81.

Consolidated Edison Stock Down 0.0 %

ED opened at $103.13 on Friday. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $105.99. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.08. The firm has a 50-day simple moving average of $100.77 and a two-hundred day simple moving average of $94.94. The company has a market capitalization of $35.67 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same quarter last year, the business posted $0.61 EPS. Analysts forecast that Consolidated Edison, Inc. will post 5.3 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

Consolidated Edison 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.