Cibc World Markets Corp lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,308,826 shares of the utilities provider’s stock after purchasing an additional 114,621 shares during the period. Cibc World Markets Corp owned about 0.26% of Public Service Enterprise Group worth $56,293,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in Public Service Enterprise Group by 19.7% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 381 shares during the period. Parallel Advisors LLC raised its stake in Public Service Enterprise Group by 0.8% during the 1st quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 20 shares during the period. Hudock Capital Group LLC raised its stake in Public Service Enterprise Group by 38.8% during the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 735 shares during the period. Vantage Investment Advisors LLC raised its stake in Public Service Enterprise Group by 35.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 700 shares during the period. Finally, Gradient Investments LLC raised its stake in Public Service Enterprise Group by 331.2% during the 2nd quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 2,484 shares during the period. Hedge funds and other institutional investors own 65.88% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (PEG) traded down 0.06% during midday trading on Friday, reaching $46.19. 4,037,711 shares of the company’s stock were exchanged. The stock has a market cap of $23.37 billion, a P/E ratio of 51.90 and a beta of 0.39. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $47.47. The company’s 50-day moving average is $46.22 and its 200-day moving average is $44.64.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Citigroup Inc. restated a “neutral” rating and set a $49.00 target price (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday. Barclays PLC upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $49.00 to $51.00 in a research note on Friday. Finally, Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $49.05.

In other news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the transaction, the chairman now directly owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,900 shares of company stock valued at $2,413,947. Corporate insiders own 0.61% of the company’s stock.

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Public Service Enterprise Group 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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