National Bank of Canada FI Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

National Bank of Canada FI grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,060 shares of the utilities provider’s stock after buying an additional 9,592 shares during the period. National Bank of Canada FI’s holdings in Public Service Enterprise Group were worth $8,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Vanguard Group Inc. grew its stake in Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after buying an additional 7,103,657 shares in the last quarter. Hsbc Holdings PLC grew its stake in Public Service Enterprise Group by 118.1% in the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after buying an additional 738,684 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Public Service Enterprise Group by 562.8% in the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after acquiring an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Public Service Enterprise Group by 1,350.4% in the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after acquiring an additional 496,581 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.4 %

NYSE:PEG opened at $73.60 on Friday. The firm’s 50-day moving average price is $66.20 and its 200-day moving average price is $62.87. The company has a market capitalization of $36.66 billion, a PE ratio of 20.39, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $73.65.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Scotiabank lowered their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Finally, Bank of America upped their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is owned by insiders.

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.