Cibc World Markets Corp Has $6.64 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cibc World Markets Corp boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,612 shares of the utilities provider's stock after purchasing an additional 10,964 shares during the period. Cibc World Markets Corp's holdings in Public Service Enterprise Group were worth $6,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after purchasing an additional 49,285 shares during the last quarter. FMR LLC lifted its holdings in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares during the last quarter. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth $376,209,000. Jennison Associates LLC lifted its stake in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Public Service Enterprise Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider's stock worth $256,012,000 after purchasing an additional 78,452 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research analysts have recently commented on PEG shares. Guggenheim reaffirmed a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. Scotiabank raised their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Stock Down 0.4 %

NYSE:PEG traded down $0.30 during mid-day trading on Friday, reaching $83.00. The stock had a trading volume of 5,339,712 shares, compared to its average volume of 2,554,307. The business's 50 day moving average is $83.50 and its 200 day moving average is $86.02. Public Service Enterprise Group Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The stock has a market cap of $41.38 billion, a P/E ratio of 20.39, 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.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company posted $0.54 earnings per share. Public Service Enterprise Group's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company's stock.

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.