Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,521 shares of the utilities provider’s stock after acquiring an additional 1,583 shares during the period. CIBC Private Wealth Group LLC’s holdings in Public Service Enterprise Group were worth $4,053,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Townsquare Capital LLC raised its position in Public Service Enterprise Group by 15.6% in the third quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 674 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $519,000. Edgestream Partners L.P. acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $372,000. Janus Henderson Group PLC raised its holdings 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 valued at $9,553,000 after buying an additional 11,864 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Public Service Enterprise Group by 8,334.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider’s stock valued at $33,974,000 after buying an additional 376,317 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent analyst reports. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, BMO Capital Markets boosted their price objective 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. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Trading Up 1.2 %

PEG opened at $83.26 on Wednesday. The business has a fifty day moving average price of $82.77 and a 200 day moving average price of $86.11. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. The stock has a market capitalization of $41.51 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% 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.