National Bank of Canada FI Sells 224,560 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

National Bank of Canada FI lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.7% during the 4th quarter, HoldingsChannel reports. The fund owned 586,134 shares of the utilities provider’s stock after selling 224,560 shares during the period. National Bank of Canada FI’s holdings in Public Service Enterprise Group were worth $49,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Townsquare Capital LLC grew its stake in shares of Public Service Enterprise Group by 15.6% in the 3rd quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider’s stock worth $446,000 after buying an additional 674 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth $519,000. Edgestream Partners L.P. bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $372,000. Janus Henderson Group PLC raised its position in shares of Public Service Enterprise Group by 12.5% in the 3rd quarter. Janus Henderson Group PLC now owns 107,082 shares of the utilities provider’s stock worth $9,553,000 after purchasing an additional 11,864 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Public Service Enterprise Group by 8,334.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider’s stock worth $33,974,000 after purchasing an additional 376,317 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $83.26 on Wednesday. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The company has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. 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 $82.77 and its 200 day moving average is $86.11.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEG. Bank of America reduced their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. LADENBURG THALM/SH SH downgraded 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. Finally, Morgan Stanley lifted their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.