Mackenzie Financial Corp Sells 9,888 Shares of Consolidated Edison, Inc. (NYSE:ED)

Mackenzie Financial Corp trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,909 shares of the utilities provider's stock after selling 9,888 shares during the quarter. Mackenzie Financial Corp's holdings in Consolidated Edison were worth $8,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Consolidated Edison by 2.0% during the first quarter. Geode Capital Management LLC now owns 7,949,371 shares of the utilities provider's stock worth $761,387,000 after purchasing an additional 154,945 shares during the period. Legal & General Group Plc grew its stake in Consolidated Edison by 0.5% during the third quarter. Legal & General Group Plc now owns 6,201,026 shares of the utilities provider's stock worth $530,373,000 after purchasing an additional 27,850 shares during the period. Northern Trust Corp grew its stake in Consolidated Edison by 8.2% during the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider's stock worth $383,519,000 after purchasing an additional 340,239 shares during the period. Morgan Stanley grew its stake in Consolidated Edison by 1.8% during the third quarter. Morgan Stanley now owns 4,221,543 shares of the utilities provider's stock worth $361,069,000 after purchasing an additional 72,915 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its stake in Consolidated Edison by 89,231.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,145,861 shares of the utilities provider's stock worth $395,142,000 after purchasing an additional 4,141,220 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group reduced their price objective on Consolidated Edison from $99.00 to $94.00 and set a "neutral" rating for the company in a research note on Friday, February 16th. Barclays raised their price objective on Consolidated Edison from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Scotiabank raised their price objective on Consolidated Edison from $90.00 to $91.00 and gave the company a "sector underperform" rating in a research note on Tuesday, February 20th. Royal Bank of Canada reduced their price objective on Consolidated Edison from $94.00 to $93.00 and set a "sector perform" rating for the company in a research note on Friday, February 16th. Finally, LADENBURG THALM/SH SH assumed coverage on Consolidated Edison in a research note on Wednesday, January 3rd. They issued a "neutral" rating and a $92.50 price objective for the company. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.96.

Consolidated Edison Stock Performance

Consolidated Edison stock traded up $0.87 during mid-day trading on Friday, reaching $91.77. 7,398,350 shares of the company's stock were exchanged, compared to its average volume of 1,679,417. The business's fifty day simple moving average is $88.97 and its 200 day simple moving average is $89.66. The firm has a market capitalization of $31.71 billion, a PE ratio of 12.78, a P/E/G ratio of 8.57 and a beta of 0.35. Consolidated Edison, Inc. has a one year low of $80.46 and a one year high of $100.92. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. Consolidated Edison had a return on equity of 8.41% and a net margin of 17.19%. Consolidated Edison's quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. On average, sell-side analysts expect that Consolidated Edison, Inc. will post 5.3 earnings per share for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.62%. Consolidated Edison's dividend payout ratio (DPR) is currently 46.24%.

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.