Mackenzie Financial Corp Has $3.28 Million Position in Consolidated Edison, Inc. (NYSE:ED)

Mackenzie Financial Corp lowered its holdings in Consolidated Edison, Inc. (NYSE:ED) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,667 shares of the utilities provider’s stock after selling 727 shares during the quarter. Mackenzie Financial Corp’s holdings in Consolidated Edison were worth $3,279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ED. Beacon Capital Management LLC lifted its stake in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Raleigh Capital Management Inc. bought a new stake in Consolidated Edison during the 4th quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new position in Consolidated Edison during the 1st quarter valued at about $33,000. TruNorth Capital Management LLC bought a new position in shares of Consolidated Edison in the 2nd quarter valued at about $33,000. Finally, Quarry LP acquired a new stake in shares of Consolidated Edison during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ED. Argus raised shares of Consolidated Edison to a “strong-buy” rating in a research note on Friday, June 7th. UBS Group increased their price target on Consolidated Edison from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Scotiabank increased their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research note on Tuesday, August 20th. Barclays increased their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Bank of America increased their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.81.

Consolidated Edison Price Performance

ED stock opened at $105.17 on Wednesday. The stock has a 50-day moving average price of $101.58 and a two-hundred day moving average price of $95.38. The stock has a market cap of $36.37 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $105.99.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company 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%. During the same quarter last year, the company earned $0.61 EPS. Equities analysts forecast that Consolidated Edison, Inc. will post 5.3 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, August 14th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, August 14th. Consolidated Edison’s payout ratio is 63.72%.

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.