Canada Pension Plan Investment Board Has $76.80 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Canada Pension Plan Investment Board lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 39.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,041,992 shares of the utilities provider’s stock after buying an additional 295,400 shares during the quarter. Canada Pension Plan Investment Board owned about 0.21% of Public Service Enterprise Group worth $76,795,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC boosted its position in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $41,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,068 shares of company stock worth $2,406,965. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Finally, Bank of America raised 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.92.

Public Service Enterprise Group Trading Up 4.0 %

Shares of NYSE:PEG opened at $86.76 on Friday. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.09 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $86.83. The company’s fifty day simple moving average is $79.70 and its 200 day simple moving average is $73.54.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

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.