Mackenzie Financial Corp Acquires 42,894 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mackenzie Financial Corp boosted its position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 126.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,739 shares of the utilities provider's stock after buying an additional 42,894 shares during the quarter. Mackenzie Financial Corp's holdings in Consolidated Edison were worth $6,847,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ED. Norges Bank bought a new position in Consolidated Edison during the fourth quarter valued at about $399,824,000. ExodusPoint Capital Management LP boosted its position in shares of Consolidated Edison by 412.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,093,402 shares of the utilities provider's stock valued at $97,564,000 after purchasing an additional 879,866 shares during the period. Invesco Ltd. boosted its position in shares of Consolidated Edison by 27.9% in the 4th quarter. Invesco Ltd. now owns 3,721,730 shares of the utilities provider's stock valued at $332,090,000 after purchasing an additional 812,885 shares during the period. Marshall Wace LLP boosted its position in shares of Consolidated Edison by 232.3% in the 4th quarter. Marshall Wace LLP now owns 1,053,339 shares of the utilities provider's stock valued at $93,989,000 after purchasing an additional 736,348 shares during the period. Finally, Burkehill Global Management LP acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $53,538,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.6%

Shares of ED traded down $0.67 during midday trading on Monday, reaching $103.82. 2,292,237 shares of the stock were exchanged, compared to its average volume of 2,286,267. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The firm has a 50 day simple moving average of $107.89 and a 200-day simple moving average of $100.29. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The company has a market cap of $37.41 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $2.25 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the business earned $2.15 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, May 14th. Consolidated Edison's payout ratio is 62.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays increased their price target on Consolidated Edison from $100.00 to $101.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Guggenheim increased their price target on Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Morgan Stanley decreased their price target on Consolidated Edison from $94.00 to $93.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd. Scotiabank raised their price objective on Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Finally, Citigroup raised their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $104.27.

About Consolidated Edison

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.