Public Service Enterprise Group Incorporated (NYSE:PEG) Position Lowered by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 56.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 460,641 shares of the utilities provider’s stock after selling 604,200 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Public Service Enterprise Group worth $21,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in Public Service Enterprise Group by 6.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 103,316 shares of the utilities provider’s stock valued at $4,779,000 after purchasing an additional 6,188 shares during the last quarter. ARGI Investment Services LLC boosted its holdings in Public Service Enterprise Group by 3.1% in the 3rd quarter. ARGI Investment Services LLC now owns 35,692 shares of the utilities provider’s stock valued at $1,650,000 after purchasing an additional 1,071 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Private Advisor Group LLC now owns 99,330 shares of the utilities provider’s stock worth $4,727,000 after acquiring an additional 5,148 shares during the last quarter. BB&T Investment Services Inc. lifted its holdings in shares of Public Service Enterprise Group by 51.6% in the 3rd quarter. BB&T Investment Services Inc. now owns 8,358 shares of the utilities provider’s stock worth $373,000 after acquiring an additional 2,845 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Public Service Enterprise Group by 17.2% in the 3rd quarter. Stifel Financial Corp now owns 300,556 shares of the utilities provider’s stock worth $13,879,000 after acquiring an additional 44,057 shares during the last quarter. 66.65% of the stock is owned by institutional investors.

Public Service Enterprise Group Incorporated (PEG) traded up $0.16 during trading on Friday, reaching $51.50. 2,313,230 shares of the company’s stock were exchanged, compared to its average volume of 3,437,597. The firm has a market cap of $25,980.03, a price-to-earnings ratio of 50.00, a PEG ratio of 6.39 and a beta of 0.41. Public Service Enterprise Group Incorporated has a 12 month low of $41.67 and a 12 month high of $53.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. analysts predict that Public Service Enterprise Group Incorporated will post 2.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio is presently 166.99%.

Several equities analysts have recently commented on the stock. Barclays upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $49.00 to $51.00 in a report on Friday, September 22nd. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Jefferies Group restated a “hold” rating and issued a $46.50 price objective on shares of Public Service Enterprise Group in a report on Thursday, October 12th. Royal Bank of Canada restated a “hold” rating and issued a $47.00 price objective on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Finally, Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $46.75 to $50.00 in a report on Monday, September 25th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $50.81.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the completion of the sale, the chairman now directly owns 687,600 shares in the company, valued at $36,374,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,951 shares of company stock worth $13,045,041. Insiders own 0.61% of the company’s stock.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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