Intact Investment Management Inc. Decreases Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Intact Investment Management Inc. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 99.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 800 shares of the utilities provider's stock after selling 79,700 shares during the quarter. Intact Investment Management Inc.'s holdings in Public Service Enterprise Group were worth $68,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in 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 valued at $7,403,000 after buying an additional 18,627 shares in the last quarter. DRW Securities LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter valued at about $8,244,000. Cullen Investment Group LTD. lifted its stake 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 valued at $2,270,000 after buying an additional 10,610 shares in the last quarter. Arvest Bank Trust Division purchased a new position in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $2,565,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.2 %

Public Service Enterprise Group stock traded up $0.19 during trading on Thursday, hitting $83.32. The company had a trading volume of 3,080,904 shares, compared to its average volume of 2,548,251. Public Service Enterprise Group Incorporated has a 1-year low of $63.54 and a 1-year high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company's 50 day simple moving average is $83.57 and its 200-day simple moving average is $86.02. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.02%. The ex-dividend date 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 Activity 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 Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company's stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday. StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a report on Wednesday. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.65.

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.