Investment Management Corp of Ontario Has $4.23 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Investment Management Corp of Ontario increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 47,421 shares of the utilities provider’s stock after purchasing an additional 5,500 shares during the period. Investment Management Corp of Ontario’s holdings in Public Service Enterprise Group were worth $4,230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEG. FMR LLC increased its position in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after buying an additional 877,345 shares during the period. Charles Schwab Investment Management Inc. increased its position in Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after acquiring an additional 19,650 shares during the period. Raymond James & Associates raised its stake in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after purchasing an additional 663,012 shares during the last quarter. Hamlin Capital Management LLC raised its stake in Public Service Enterprise Group by 7.2% during the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock valued at $216,543,000 after purchasing an additional 162,731 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of several research reports. 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. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Stock Down 1.2 %

Shares of NYSE PEG opened at $91.20 on Wednesday. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The business has a fifty day moving average of $89.46 and a two-hundred day moving average of $81.68. The stock has a market cap of $45.44 billion, a PE ratio of 22.41, a PEG ratio of 3.38 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.63%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This represents a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,361 shares of company stock valued at $2,356,562 in the last three months. Corporate insiders own 0.18% of the company’s stock.

About Public Service Enterprise Group

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.