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

National Bank of Canada FI decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,134 shares of the utilities provider’s stock after selling 224,560 shares during the quarter. National Bank of Canada FI owned 0.12% of Public Service Enterprise Group worth $49,541,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the fourth quarter worth $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at $54,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $56,000. Finally, Millstone Evans Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $56,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Stock Up 1.2 %

NYSE PEG opened at $83.26 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The stock has a market capitalization of $41.51 billion, a PE ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business’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 data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. 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. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Public Service Enterprise Group Profile

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.