Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 946,733 shares of the utilities provider’s stock after acquiring an additional 9,787 shares during the period. Canada Pension Plan Investment Board owned approximately 0.19% of Public Service Enterprise Group worth $79,989,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PEG. GKV Capital Management Co. Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $161,000. First Commonwealth Financial Corp PA boosted its position in Public Service Enterprise Group by 4.2% during the 4th quarter. First Commonwealth Financial Corp PA now owns 9,837 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 393 shares during the period. Altshuler Shaham Ltd purchased a new stake in Public Service Enterprise Group during the 4th quarter worth $105,000. MSH Capital Advisors LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $244,000. Finally, Marshall Wace LLP raised its position in Public Service Enterprise Group by 464.8% in the fourth quarter. Marshall Wace LLP now owns 368,155 shares of the utilities provider’s stock valued at $31,105,000 after purchasing an additional 302,967 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.4 %

Shares of PEG opened at $83.33 on Friday. The stock’s 50-day moving average price is $81.90 and its 200 day moving average price is $85.60. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $64.81 and a 12-month high of $95.22. The firm has a market capitalization of $41.55 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Analyst Ratings Changes

A number of brokerages recently commented on PEG. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Barclays decreased their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.35.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.