Public Service Enterprise Group Incorporated (PEG) Stake Cut by Jarislowsky Fraser Ltd

Jarislowsky Fraser Ltd reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 104,633 shares of the utilities provider’s stock after selling 1,600 shares during the period. Jarislowsky Fraser Ltd’s holdings in Public Service Enterprise Group were worth $4,640,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares during the period. Parallel Advisors LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $114,000. Kistler Tiffany Companies LLC boosted its stake in Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock worth $134,000 after buying an additional 543 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock worth $147,000 after buying an additional 314 shares during the period. Institutional investors own 66.53% of the company’s stock.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) traded up 0.29% during mid-day trading on Friday, reaching $44.45. 5,051,153 shares of the company’s stock traded hands. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $46.81. The firm’s 50-day moving average is $44.02 and its 200 day moving average is $43.99. The firm has a market cap of $22.49 billion, a price-to-earnings ratio of 42.74 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted $0.91 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post $2.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.87%. Public Service Enterprise Group’s payout ratio is currently 165.39%.

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PEG has been the subject of a number of recent analyst reports. Deutsche Bank AG lowered their target price on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, April 11th. Barclays PLC lifted their target price on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $46.50 target price (up from $43.50) on shares of Public Service Enterprise Group in a research note on Monday, February 27th. Wells Fargo & Company cut shares of Public Service Enterprise Group from an “outperform” rating to a “market perform” rating in a research note on Monday, February 27th. Finally, Mizuho initiated coverage on shares of Public Service Enterprise Group in a research note on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price objective for the company. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $46.90.

In other news, insider Derek M. Dirisio sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total transaction of $87,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ralph A. Larossa sold 24,021 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,021 shares of company stock valued at $3,772,635. 0.61% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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