Northwest & Ethical Investments L.P. Sells 7,613 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Northwest & Ethical Investments L.P. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,150 shares of the utilities provider’s stock after selling 7,613 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Public Service Enterprise Group were worth $5,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Public Service Enterprise Group by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock worth $45,333,000 after purchasing an additional 4,941 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Public Service Enterprise Group by 14.5% in the 1st quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock worth $1,509,000 after buying an additional 2,866 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of Public Service Enterprise Group by 10.6% in the first quarter. iA Global Asset Management Inc. now owns 15,798 shares of the utilities provider’s stock worth $1,055,000 after acquiring an additional 1,514 shares during the period. Swedbank AB purchased a new stake in Public Service Enterprise Group during the first quarter valued at $19,675,000. Finally, Atria Investments Inc increased its position in Public Service Enterprise Group by 0.7% during the first quarter. Atria Investments Inc now owns 38,320 shares of the utilities provider’s stock valued at $2,559,000 after acquiring an additional 253 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 0.3 %

Shares of PEG opened at $94.20 on Friday. The business’s 50 day moving average is $89.15 and its 200 day moving average is $81.19. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a market capitalization of $46.93 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.55%. Public Service Enterprise Group’s payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PEG shares. Barclays cut their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Finally, UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.