National Bank of Canada FI Trims Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

National Bank of Canada FI lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 27.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 586,134 shares of the utilities provider's stock after selling 224,560 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Public Service Enterprise Group worth $49,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PEG. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Finally, Millstone Evans Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEG. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets raised their price target on 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. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.65.

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Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

PEG stock traded down $3.73 during trading on Friday, hitting $77.83. 4,819,758 shares of the company's stock traded hands, compared to its average volume of 2,689,468. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22. The stock has a market capitalization of $38.80 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.78 and a beta of 0.52. The business has a fifty day simple moving average of $82.34 and a 200 day simple moving average of $86.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating 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 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% compared to the same quarter last year. As a group, research 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

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.