Oppenheimer & Co. Inc. lowered its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 128,438 shares of the company’s stock after selling 2,595 shares during the period. Oppenheimer & Co. Inc.’s holdings in Public Service Enterprise Group were worth $5,378,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEG. Nordea Investment Management AB increased its stake in shares of Public Service Enterprise Group by 67.0% in the third quarter. Nordea Investment Management AB now owns 9,042,998 shares of the company’s stock valued at $378,630,000 after buying an additional 3,629,004 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Public Service Enterprise Group by 110.1% in the second quarter. JPMorgan Chase & Co. now owns 6,076,488 shares of the company’s stock valued at $283,225,000 after buying an additional 3,184,380 shares during the period. BlackRock Advisors LLC increased its stake in shares of Public Service Enterprise Group by 27.6% in the second quarter. BlackRock Advisors LLC now owns 7,541,046 shares of the company’s stock valued at $351,488,000 after buying an additional 1,632,324 shares during the period. USS Investment Management Ltd increased its stake in shares of Public Service Enterprise Group by 801.3% in the second quarter. USS Investment Management Ltd now owns 1,330,299 shares of the company’s stock valued at $61,999,000 after buying an additional 1,182,700 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Public Service Enterprise Group by 7.3% in the second quarter. BlackRock Fund Advisors now owns 14,058,635 shares of the company’s stock valued at $655,273,000 after buying an additional 951,808 shares during the period. 64.42% of the stock is owned by institutional investors.

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

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.09% during mid-day trading on Tuesday, hitting $42.84. 2,497,044 shares of the stock traded hands. Public Service Enterprise Group Inc. has a 12 month low of $36.80 and a 12 month high of $47.41. The firm has a 50 day moving average of $41.06 and a 200 day moving average of $43.35. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 16.87 and a beta of 0.28.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter last year, the firm posted $0.80 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.64 annualized dividend and a dividend yield of 3.83%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 64.57%.

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PEG has been the subject of several analyst reports. Goldman Sachs Group Inc. raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $47.00 in a research report on Monday, October 17th. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. Argus dropped their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. Jefferies Group restated a “hold” rating and issued a $43.50 target price on shares of Public Service Enterprise Group in a report on Tuesday, November 1st. Finally, Barclays PLC raised their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.50.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 25,895 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $41.74, for a total transaction of $1,080,857.30. Following the transaction, the chairman now owns 738,182 shares in the company, valued at approximately $30,811,716.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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