Caisse DE Depot ET Placement DU Quebec Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 24.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 457,642 shares of the utilities provider's stock after selling 151,400 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.09% of Public Service Enterprise Group worth $40,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $422,000. DRW Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth $8,244,000. QRG Capital Management Inc. lifted its position in shares of Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider's stock worth $5,227,000 after purchasing an additional 15,505 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Public Service Enterprise Group by 36.1% during the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider's stock valued at $8,575,000 after purchasing an additional 25,503 shares during the period. Finally, CWM LLC grew its holdings in shares of Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider's stock worth $1,532,000 after purchasing an additional 8,723 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,739 shares of company stock valued at $2,467,753. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Down 2.1 %

Shares of PEG traded down $2.00 during midday trading on Monday, hitting $92.30. 2,078,943 shares of the company's stock traded hands, compared to its average volume of 2,763,792. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The firm's fifty day moving average is $89.31 and its 200-day moving average is $81.44. 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 stock has a market capitalization of $45.99 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61.

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

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. Public Service Enterprise Group's payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a "hold" rating and a $85.00 price objective for the company. Morgan Stanley boosted their price target 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. Evercore ISI raised their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. BMO Capital Markets upped 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. Finally, 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. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.