Bank of Montreal Can Sells 31,496 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Bank of Montreal Can trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 668,323 shares of the utilities provider's stock after selling 31,496 shares during the period. Bank of Montreal Can owned 0.13% of Public Service Enterprise Group worth $56,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. Cullen Investment Group LTD. lifted its position in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after buying an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group in the third quarter worth approximately $2,860,000. Parsons Capital Management Inc. RI bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $2,565,000. Finally, Czech National Bank raised its stake in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after acquiring an additional 6,545 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.0 %

NYSE:PEG traded up $0.04 during mid-day trading on Tuesday, hitting $83.71. 326,655 shares of the company's stock were exchanged, compared to its average volume of 2,714,347. The company has a market cap of $41.73 billion, a PE ratio of 20.57, a P/E/G ratio of 2.78 and a beta of 0.52. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The business has a fifty day moving average price of $81.93 and a 200 day moving average price of $85.67.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.54 EPS. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.01%. This is an increase 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 is 71.19%.

Analyst Ratings Changes

A number of equities analysts recently commented on PEG shares. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley boosted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. BMO Capital Markets reduced their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Finally, Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $89.35.

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.