Caisse Des Depots ET Consignations Buys Shares of 42,341 Public Service Enterprise Group Incorporated (NYSE:PEG)

Caisse Des Depots ET Consignations acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 42,341 shares of the utilities provider’s stock, valued at approximately $3,577,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $376,209,000. Jennison Associates LLC boosted its position in Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the period. FMR LLC raised its position in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after buying an additional 877,345 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after acquiring an additional 640,485 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.48 on Thursday. 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 company has a 50-day moving average price of $83.31 and a 200 day moving average price of $86.09. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The stock has a market cap of $40.62 billion, a P/E ratio of 20.02, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $0.54 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PEG shares. Morgan Stanley boosted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company lowered their price target on 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $89.65.

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.