Canada Post Corp Registered Pension Plan Sells 22,935 Shares of Public Service Enterprise Group Incorporated $PEG

Canada Post Corp Registered Pension Plan reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 54.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,316 shares of the utilities provider’s stock after selling 22,935 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Public Service Enterprise Group were worth $1,604,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEG. Prime Capital Investment Advisors LLC increased its holdings in Public Service Enterprise Group by 17.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 8,313 shares of the utilities provider’s stock valued at $694,000 after buying an additional 1,224 shares during the last quarter. RMR Wealth Builders grew its position in shares of Public Service Enterprise Group by 1.0% during the 3rd quarter. RMR Wealth Builders now owns 17,186 shares of the utilities provider’s stock valued at $1,434,000 after acquiring an additional 164 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Public Service Enterprise Group by 4.0% during the 3rd quarter. HighPoint Advisor Group LLC now owns 9,876 shares of the utilities provider’s stock valued at $824,000 after acquiring an additional 384 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,224 shares of the utilities provider’s stock worth $1,604,000 after purchasing an additional 551 shares in the last quarter. Finally, Howe & Rusling Inc. raised its holdings in Public Service Enterprise Group by 83.0% in the 3rd quarter. Howe & Rusling Inc. now owns 7,318 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 3,318 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PEG. JPMorgan Chase & Co. reissued a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target for the company in a research report on Wednesday, January 7th. Finally, BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Trading Up 1.1%

Public Service Enterprise Group stock opened at $80.68 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The firm’s 50 day moving average price is $79.90 and its 200-day moving average price is $82.15. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a market cap of $40.27 billion, a P/E ratio of 19.39, a PEG ratio of 2.60 and a beta of 0.59.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.