Consolidated Edison, Inc. (NYSE:ED) Stake Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in Consolidated Edison by 2,486.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock worth $1,977,000 after acquiring an additional 20,934 shares during the period. Tower Research Capital LLC TRC boosted its position in Consolidated Edison by 35.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after acquiring an additional 12,307 shares during the period. Sei Investments Co. boosted its position in Consolidated Edison by 57.4% during the 1st quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock worth $22,193,000 after acquiring an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Consolidated Edison by 153.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock valued at $22,321,000 after buying an additional 148,988 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of Consolidated Edison by 121.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock valued at $10,323,000 after buying an additional 62,260 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of NYSE ED opened at $105.17 on Wednesday. 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 business’s 50 day moving average is $101.58 and its two-hundred day moving average is $95.38. The company has a market cap of $36.37 billion, a P/E ratio of 20.19, a P/E/G ratio of 3.52 and a beta of 0.36. Consolidated Edison, Inc. has a 12 month low of $80.46 and a 12 month high of $105.99.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.08 billion. Consolidated Edison had a return on equity of 8.67% and a net margin of 12.03%. During the same period in the previous year, the business posted $0.61 EPS. On average, equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ED shares. Scotiabank lifted their price target on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price target on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Bank of America lifted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Argus upgraded Consolidated Edison to a “strong-buy” rating in a report on Friday, June 7th. Finally, Barclays lifted their price target on Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.81.

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.