Toronto Dominion Bank Has $9.53 Million Stake in Consolidated Edison Inc (ED)
Toronto Dominion Bank lifted its position in Consolidated Edison Inc (NYSE:ED) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,174 shares of the utilities provider’s stock after buying an additional 13,887 shares during the quarter. Toronto Dominion Bank’s holdings in Consolidated Edison were worth $9,532,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of ED. BlackRock Inc. increased its position in Consolidated Edison by 1.8% during the second quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock worth $1,983,672,000 after acquiring an additional 439,840 shares during the period. Vanguard Group Inc. increased its position in Consolidated Edison by 2.4% during the second quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock worth $1,763,600,000 after acquiring an additional 516,860 shares during the period. APG Asset Management N.V. increased its position in Consolidated Edison by 38.2% during the third quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock worth $327,202,000 after acquiring an additional 1,121,200 shares during the period. Legal & General Group Plc increased its position in Consolidated Edison by 4.7% during the second quarter. Legal & General Group Plc now owns 2,785,937 shares of the utilities provider’s stock worth $225,186,000 after acquiring an additional 124,772 shares during the period. Finally, Federated Investors Inc. PA increased its position in Consolidated Edison by 1.1% during the second quarter. Federated Investors Inc. PA now owns 2,716,781 shares of the utilities provider’s stock worth $219,570,000 after acquiring an additional 29,358 shares during the period. Institutional investors and hedge funds own 55.30% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE ED) opened at $87.63 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 0.97. Consolidated Edison Inc has a fifty-two week low of $68.85 and a fifty-two week high of $89.58. The firm has a market cap of $27,290.00, a PE ratio of 22.18, a PEG ratio of 7.25 and a beta of 0.10.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.42% and a net margin of 10.42%. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the company posted $1.51 EPS. research analysts expect that Consolidated Edison Inc will post 4.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s payout ratio is 69.17%.
In other news, CEO Joseph P. Oates sold 1,908 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the sale, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders bought 183 shares of company stock worth $15,248. 0.20% of the stock is owned by insiders.
A number of equities analysts recently issued reports on ED shares. BidaskClub raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Morgan Stanley boosted their target price on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and issued a $83.50 price target on shares of Consolidated Edison in a report on Thursday, August 31st. Finally, Evercore ISI lowered shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price target on the stock. in a report on Tuesday, September 26th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $80.32.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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