Caisse DE Depot ET Placement DU Quebec Cuts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Caisse DE Depot ET Placement DU Quebec decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.7% during the 4th quarter, Holdings Channel reports. The fund owned 422,342 shares of the utilities provider’s stock after selling 35,300 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Public Service Enterprise Group were worth $35,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Wilmington Savings Fund Society FSB increased its position in Public Service Enterprise Group by 30.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 2,384 shares during the period. Tidal Investments LLC grew its holdings in Public Service Enterprise Group by 26.9% during the third quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider’s stock worth $1,455,000 after acquiring an additional 3,461 shares during the period. Franklin Resources Inc. raised its position in Public Service Enterprise Group by 5.9% in the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock worth $235,194,000 after acquiring an additional 147,903 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Public Service Enterprise Group by 3.1% in the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider’s stock valued at $53,756,000 after acquiring an additional 18,344 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Public Service Enterprise Group by 14.8% during the 4th quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider’s stock worth $579,000 after purchasing an additional 881 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 4,134 shares of company stock valued at $337,941. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEG. StockNews.com downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday. Barclays reduced 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. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley upped their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $88.81.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $79.52 on Friday. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 12-month low of $69.71 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average is $81.20 and its two-hundred day moving average is $84.91.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Public Service Enterprise Group 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.