Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 19.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ED. Fairway Wealth LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $36,000. OFI Invest Asset Management purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $35,000. Centricity Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Consolidated Edison during the fourth quarter worth approximately $44,000. Finally, CGC Financial Services LLC increased its position in shares of Consolidated Edison by 64.0% during the fourth quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider's stock worth $49,000 after purchasing an additional 213 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.6%

Shares of Consolidated Edison stock traded down $0.67 during trading hours on Monday, hitting $103.82. The company's stock had a trading volume of 2,292,237 shares, compared to its average volume of 2,286,267. Consolidated Edison, Inc. has a twelve month low of $87.28 and a twelve month high of $114.87. The firm has a fifty day moving average of $107.89 and a 200-day moving average of $100.29. The stock has a market cap of $37.41 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 3.05 and a beta of 0.29. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly 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). Consolidated Edison had a net margin of 11.93% and a return on equity of 8.62%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $2.15 EPS. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Morgan Stanley dropped their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd. Scotiabank boosted their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Finally, UBS Group upped their target price on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $104.27.

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.