Public Service Enterprise Group Incorporated (NYSE:PEG) Stake Increased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,774 shares of the utilities provider’s stock after buying an additional 3,504 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Public Service Enterprise Group were worth $1,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $39,000. Finally, Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $50,000. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research note on Thursday, April 10th. 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, Barclays lowered their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.81.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 1.5%

Public Service Enterprise Group stock opened at $78.45 on Friday. The company has a 50-day simple moving average of $80.86 and a 200-day simple moving average of $84.21. The firm has a market capitalization of $39.15 billion, a P/E ratio of 19.28, a P/E/G 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 one year low of $71.89 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Public Service Enterprise Group Company 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.