BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,423 shares of the utilities provider’s stock after buying an additional 5,880 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Service Enterprise Group were worth $8,319,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 boosted its stake in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Gradient Investments LLC boosted its stake in Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after buying an additional 2,484 shares in the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 46.68 on Friday. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $46.95. The firm has a market cap of $23.61 billion, a PE ratio of 52.45 and a beta of 0.38. The firm’s 50-day moving average price is $44.33 and its 200-day moving average price is $44.29.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the company posted $0.57 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

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A number of research firms recently weighed in on PEG. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley upped their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Public Service Enterprise Group currently has a consensus rating of “Hold” and an average target price of $48.21.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the transaction, the chairman now directly owns 748,474 shares in the company, valued at approximately $33,853,479.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Company Profile

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

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