Investment Management Corp of Ontario Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Investment Management Corp of Ontario grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,421 shares of the utilities provider's stock after acquiring an additional 5,500 shares during the quarter. Investment Management Corp of Ontario's holdings in Public Service Enterprise Group were worth $4,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. raised its holdings in shares of Public Service Enterprise Group by 18.8% in the third quarter. Itau Unibanco Holding S.A. now owns 25,406 shares of the utilities provider's stock worth $2,266,000 after buying an additional 4,020 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Public Service Enterprise Group by 8,334.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider's stock valued at $33,974,000 after acquiring an additional 376,317 shares during the period. Janus Henderson Group PLC raised its stake in Public Service Enterprise Group by 12.5% in the 3rd quarter. Janus Henderson Group PLC now owns 107,082 shares of the utilities provider's stock worth $9,553,000 after acquiring an additional 11,864 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Public Service Enterprise Group in the 3rd quarter worth $8,693,000. Finally, Edgestream Partners L.P. purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at about $372,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $0.15 during trading on Wednesday, reaching $91.31. The company had a trading volume of 747,235 shares, compared to its average volume of 2,753,749. The firm has a market capitalization of $45.49 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 3.38 and a beta of 0.62. The firm's 50-day simple moving average is $89.46 and its 200 day simple moving average is $81.68. 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 Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.63%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Barclays dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, Morgan Stanley boosted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.08.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company's stock, valued at $4,610,217.94. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,361 shares of company stock valued at $2,356,562. Insiders own 0.18% 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.