BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.42 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,120 shares of the utilities provider's stock after selling 12,368 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Public Service Enterprise Group were worth $7,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after buying an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock worth $263,315,000 after purchasing an additional 19,650 shares during the period. Raymond James & Associates lifted its holdings in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock valued at $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Hamlin Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 7.2% in the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider's stock valued at $216,543,000 after purchasing an additional 162,731 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider's stock worth $178,763,000 after purchasing an additional 732,443 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 148,892 shares of the company's stock, valued at approximately $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,739 shares of company stock valued at $2,467,753 over the last three months. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 2.1 %

Shares of PEG traded down $2.00 during midday trading on Monday, reaching $92.30. 2,078,943 shares of the stock were exchanged, compared to its average volume of 2,763,792. The company has a market cap of $45.99 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 3.46 and a beta of 0.61. The company has a quick ratio of 0.48, a current ratio of 0.68 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 firm has a 50 day simple moving average of $89.31 and a 200-day simple moving average of $81.44.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays reduced their price objective on shares of 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. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. 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. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.08.

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.