JARISLOWSKY FRASER Ltd Sells 190,100 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

JARISLOWSKY FRASER Ltd lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 541,507 shares of the utilities provider’s stock after selling 190,100 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Public Service Enterprise Group were worth $45,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Center for Financial Planning Inc. increased its position in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares during the period. Spire Wealth Management increased its holdings in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares during the period. United Asset Strategies Inc. raised its position in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 127 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after buying an additional 139 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after buying an additional 139 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PEG. StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Evercore ISI decreased their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus price target of $88.81.

Public Service Enterprise Group Stock Down 0.7 %

PEG stock opened at $78.92 on Friday. The stock’s 50 day simple moving average is $80.97 and its 200 day simple moving average is $84.50. The company has a market cap of $39.38 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is presently 68.85%.

Insider Buying and Selling

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 Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.