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

Toronto Dominion Bank lessened its position in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 14.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 152,933 shares of the utilities provider's stock after selling 25,398 shares during the period. Toronto Dominion Bank's holdings in Consolidated Edison were worth $15,925,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Consolidated Edison during the third quarter worth $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter worth $30,000. FSA Wealth Management LLC acquired a new position in shares of Consolidated Edison during the 3rd quarter worth $55,000. Future Financial Wealth Managment LLC purchased a new position in shares of Consolidated Edison in the 3rd quarter valued at about $55,000. Finally, Webster Bank N. A. increased its holdings in shares of Consolidated Edison by 189.5% in the 3rd quarter. Webster Bank N. A. now owns 579 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.1 %

NYSE:ED traded up $0.08 on Friday, reaching $92.69. The stock had a trading volume of 1,868,498 shares, compared to its average volume of 1,896,912. Consolidated Edison, Inc. has a 12-month low of $85.85 and a 12-month high of $107.75. The company has a market cap of $32.11 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 3.11 and a beta of 0.36. The firm's fifty day moving average is $100.22 and its two-hundred day moving average is $98.15. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Equities analysts expect that Consolidated Edison, Inc. will post 5.34 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison's dividend payout ratio (DPR) is 62.52%.

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. UBS Group upped their price target on Consolidated Edison from $105.00 to $106.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $103.00 to $116.00 in a report on Tuesday, October 15th. Barclays lowered their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a report on Friday, November 8th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Consolidated Edison has a consensus rating of "Hold" and a consensus target price of $99.96.

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.