Toronto Dominion Bank increases its holdings in Consolidated Edison, Inc. (NYSE:ED)

Toronto Dominion Bank raised its stake in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 59.3% during the second quarter, HoldingsChannel reports. The fund owned 178,331 shares of the utilities provider’s stock after purchasing 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.

A number of other institutional investors and hedge funds have recently modified their holdings of the company. Beacon Capital Management LLC boosted its holdings in Consolidated Edison by 2,307.7% in the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Consolidated Edison in the 4th quarter valued at $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 in the second quarter valued at $33,000. Finally, Quarry LP acquired a new stake in shares of Consolidated Edison during the fourth quarter valued at $35,000. 66.29% of shares are currently owned by institutional investors.

Analyst upgrades and downgrades

A number of brokerages weighed in on ED. Barclays boosted their price target 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 boosted 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 raised 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 boosted 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. Consolidated Edison currently has an average rating of “Hold” and an average target price of $93.81, according to MarketBeat .

Get the latest research report on ED

Consolidated Edison stock down 0.0%

ED opened at $103.13 on Friday. Consolidated Edison, Inc. it 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 cap 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 – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping 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%. In the same quarter last year, the business posted EPS of $0.61. Analysts estimate that Consolidated Edison, Inc. will record 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 dividend of $3.32 on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, August 14. Edison’s consolidated payout ratio is 63.72%.

Consolidated Edison profile

(Free Report)

Consolidated Edison, Inc., through its subsidiaries, engages in the regulated business of supplying electricity, gas and steam in the United States. Provides electric service 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 about 1,530 customers in parts of Manhattan.

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