Jarislowsky Fraser Ltd lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,633 shares of the utilities provider’s stock after selling 1,000 shares during the period. Jarislowsky Fraser Ltd’s holdings in Public Service Enterprise Group were worth $4,457,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. BlackRock Inc. raised its position in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares during the period. Vanguard Group Inc. raised its position in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the period. Canada Pension Plan Investment Board raised its position in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the period. 66.17% of the stock is owned by institutional investors and hedge funds.
Shares of Public Service Enterprise Group Incorporated (NYSE PEG) traded up 1.40% during trading on Friday, reaching $44.96. 2,755,683 shares of the company’s stock were exchanged. The stock has a market cap of $22.74 billion, a PE ratio of 43.23 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.49. The stock’s 50 day moving average price is $43.54 and its 200-day moving average price is $44.06.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 165.39%.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.10.
In related news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $43.82, for a total value of $1,314,600.00. Following the transaction, the chairman now owns 748,691 shares in the company, valued at approximately $32,807,639.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Ralph A. Larossa sold 24,021 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,021 shares of company stock worth $3,733,335. 0.61% of the stock is currently owned by company insiders.
About Public Service Enterprise Group
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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