BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $8.20 Million Stake in Public Service Enterprise Group Inc. (PEG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 26.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,406 shares of the utilities provider’s stock after selling 57,137 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Service Enterprise Group were worth $8,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC World Markets Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $811,000. Macquarie Group Ltd. grew its stake in Public Service Enterprise Group by 6.2% in the second quarter. Macquarie Group Ltd. now owns 528,955 shares of the utilities provider’s stock worth $28,638,000 after purchasing an additional 30,848 shares in the last quarter. Millennium Management LLC grew its stake in Public Service Enterprise Group by 10.0% in the second quarter. Millennium Management LLC now owns 2,143,225 shares of the utilities provider’s stock worth $116,034,000 after purchasing an additional 195,140 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in Public Service Enterprise Group by 6.0% in the second quarter. Glen Harbor Capital Management LLC now owns 17,752 shares of the utilities provider’s stock worth $961,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Public Service Enterprise Group by 19.3% in the second quarter. Toronto Dominion Bank now owns 324,730 shares of the utilities provider’s stock worth $17,577,000 after purchasing an additional 52,549 shares in the last quarter. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group stock opened at $55.44 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. The firm has a market cap of $28.21 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.68 and a beta of 0.31. Public Service Enterprise Group Inc. has a twelve month low of $46.19 and a twelve month high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts anticipate that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.80 dividend on an annualized basis and a yield of 3.25%. Public Service Enterprise Group’s dividend payout ratio is currently 61.43%.

Several brokerages recently issued reports on PEG. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a research note on Wednesday, October 10th. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, September 21st. Macquarie increased their price objective on Public Service Enterprise Group from $55.50 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, September 24th. Wells Fargo & Co dropped their price objective on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, September 17th. Finally, MED reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Monday, November 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.46.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $55.39, for a total transaction of $2,902,823.73. Following the completion of the sale, the chairman now owns 515,233 shares in the company, valued at $28,538,755.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,566 shares of company stock valued at $9,946,510. 0.58% of the stock is owned by company insiders.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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