Canada Pension Plan Investment Board reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 908,737 shares of the utilities provider’s stock after selling 3,500 shares during the period. Canada Pension Plan Investment Board’s holdings in Public Service Enterprise Group were worth $39,085,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PEG. American Economic Planning Group Inc. ADV raised its position in Public Service Enterprise Group by 0.6% in the first quarter. American Economic Planning Group Inc. ADV now owns 13,486 shares of the utilities provider’s stock worth $598,000 after buying an additional 77 shares in the last quarter. Round Table Services LLC purchased a new position in Public Service Enterprise Group during the first quarter worth $215,000. Bollard Group LLC raised its position in Public Service Enterprise Group by 12.4% in the first quarter. Bollard Group LLC now owns 194,502 shares of the utilities provider’s stock worth $8,626,000 after buying an additional 21,478 shares in the last quarter. NewSquare Capital LLC raised its position in Public Service Enterprise Group by 17.0% in the first quarter. NewSquare Capital LLC now owns 18,160 shares of the utilities provider’s stock worth $805,000 after buying an additional 2,636 shares in the last quarter. Finally, DnB Asset Management AS raised its position in Public Service Enterprise Group by 25.2% in the first quarter. DnB Asset Management AS now owns 64,533 shares of the utilities provider’s stock worth $2,862,000 after buying an additional 13,000 shares in the last quarter. 65.76% of the stock is owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 45.53 on Friday. The stock has a market capitalization of $23.03 billion, a P/E ratio of 51.16 and a beta of 0.38. The firm’s 50-day moving average is $43.92 and its 200 day moving average is $44.18. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

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A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.50 to $50.00 in a research report on Friday. Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Barclays PLC upped their price target on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.21.

In related news, COO Ralph A. Larossa sold 24,021 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total transaction of $1,046,114.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the transaction, the chairman now directly owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Insiders sold 77,421 shares of company stock valued at $3,389,397 over the last three months. 0.61% of the stock is owned by insiders.

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.

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

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