Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,324 shares of the utilities provider's stock after selling 3,826 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Public Service Enterprise Group were worth $5,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $376,209,000. Jennison Associates LLC raised its stake in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. FMR LLC lifted its position in 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 acquiring an additional 877,345 shares during the last quarter. National Bank of Canada FI increased its position in shares of Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock worth $72,321,000 after purchasing an additional 640,485 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Public Service Enterprise Group by 103.6% during the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock worth $80,313,000 after purchasing an additional 483,795 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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Public Service Enterprise Group Trading Down 2.2 %

Shares of PEG traded down $1.82 on Tuesday, hitting $81.51. 2,615,221 shares of the stock traded hands, compared to its average volume of 2,546,492. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The stock's 50 day moving average is $83.48 and its two-hundred day moving average is $86.11. The firm has a market capitalization of $40.64 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.60. 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 (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business's revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America dropped their price target 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. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Scotiabank upped their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Barclays cut Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Guggenheim reiterated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.65.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company'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 transaction 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 approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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.