BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 12,368 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 83,120 shares of the utilities provider’s stock after selling 12,368 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Service Enterprise Group were worth $7,415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Old Port Advisors lifted its holdings in shares of Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its stake in shares of Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after buying an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after buying an additional 123 shares during the last quarter. Cigna Investments Inc. New increased its position in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

NYSE:PEG opened at $94.30 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. 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 firm’s 50 day moving average is $89.31 and its 200 day moving average is $81.44. The stock has a market capitalization of $46.98 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its 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 for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.55%. Public Service Enterprise Group’s payout ratio is 58.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEG shares. Scotiabank lifted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.08.

Insider Activity

In related news, EVP Tamara Louise Linde sold 9,563 shares of the business’s 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 sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 over the last quarter. Company insiders own 0.57% 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.