Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 5,822 Public Service Enterprise Group Incorporated (NYSE:PEG)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,822 shares of the utilities provider's stock, valued at approximately $519,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $35,000. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Country Trust Bank purchased a new position in Public Service Enterprise Group during the second quarter valued at approximately $52,000. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions 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 that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,361 shares of company stock worth $2,356,562. 0.18% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Down 1.2 %

Shares of NYSE PEG traded down $1.11 during midday trading on Tuesday, reaching $91.16. 2,457,501 shares of the stock were exchanged, compared to its average volume of 2,762,409. The stock has a market capitalization of $45.42 billion, a P/E ratio of 22.40, a PEG ratio of 3.38 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50 day simple moving average of $89.31 and a 200 day simple moving average of $81.44. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Analyst Ratings Changes

Several research firms recently commented on PEG. BMO Capital Markets raised 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. Bank of America lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Scotiabank increased their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Barclays cut their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Finally, Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.08.

Public Service Enterprise Group Company 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.