Toronto Dominion Bank Sells 29,092 Shares of Consolidated Edison, Inc. (NYSE:ED)

Toronto Dominion Bank decreased its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,841 shares of the utilities provider's stock after selling 29,092 shares during the quarter. Toronto Dominion Bank's holdings in Consolidated Edison were worth $11,050,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ED. Norges Bank acquired a new position in shares of Consolidated Edison during the 4th quarter worth $399,824,000. ExodusPoint Capital Management LP raised its holdings in Consolidated Edison by 412.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after buying an additional 879,866 shares in the last quarter. Invesco Ltd. lifted its position in shares of Consolidated Edison by 27.9% in the fourth quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock worth $332,090,000 after buying an additional 812,885 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Consolidated Edison by 232.3% during the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock worth $93,989,000 after acquiring an additional 736,348 shares in the last quarter. Finally, Burkehill Global Management LP acquired a new position in shares of Consolidated Edison during the 4th quarter valued at about $53,538,000. Institutional investors own 66.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ED shares. Citigroup increased their price target on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, April 9th. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Scotiabank boosted their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company increased their target price 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $104.27.

Consolidated Edison Stock Performance

ED stock traded up $0.60 during trading on Monday, reaching $104.02. 2,116,035 shares of the stock were exchanged, compared to its average volume of 2,287,342. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $37.48 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29. The stock has a 50 day simple moving average of $108.33 and a 200-day simple moving average of $100.00.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business posted $2.15 EPS. As a group, sell-side analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

About Consolidated Edison

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.