Canada Pension Plan Investment Board reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,737 shares of the utilities provider’s stock after selling 3,500 shares during the period. Canada Pension Plan Investment Board owned approximately 0.18% of Public Service Enterprise Group worth $39,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares during the period. Parallel Advisors LLC increased its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares during the period. YorkBridge Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock worth $134,000 after buying an additional 543 shares during the period. Finally, Gradient Investments LLC increased its position in shares of Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after buying an additional 2,484 shares during the period. Institutional investors and hedge funds own 65.76% of the company’s stock.

Public Service Enterprise Group Incorporated (PEG) opened at 45.53 on Friday. The firm has a market cap of $23.03 billion, a P/E ratio of 51.16 and a beta of 0.38. The company’s 50 day moving average is $43.92 and its 200 day moving average is $44.18. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.57 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

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

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PEG has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.50 to $50.00 in a research report on Friday. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Barclays PLC upped their price objective 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus price target of $48.21.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction dated 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 transaction, the chairman now owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,421 shares of company stock valued at $3,389,397. 0.61% of the stock is currently owned by company 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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