Mackenzie Financial Corp has a $7.05 million position in Public Service Enterprise Group Incorporated (NYSE:PEG)


Mackenzie Financial Corp cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 27.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,215 shares of the utility company, after selling 43,222 shares during the quarter. Mackenzie Financial Corp’s stakes in Public Service Enterprise Group were worth $7,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utility’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utility’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Public Service Enterprise Group by 2.2% in the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utility’s stock valued at $638,876,000 after purchasing an additional 221,305 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utility company’s stock valued at $401,173,000 after purchasing an additional 87,974 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Public Service Enterprise Group by 2.8% in the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utility’s stock valued at $350,395,000 after purchasing an additional 170,586 shares during the last quarter. 73.34% of the shares are currently held by institutional investors and hedge funds.

Insider activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, April 1. The shares sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the CEO now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14. The shares sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, April 1. The stock sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the CEO now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The explanation of this sale can be found here. Insiders sold 7,948 shares of the company’s stock worth $510,300 in the last quarter. Company insiders own 0.57% of the company’s shares.

Public Service Enterprise Group rises 1.0%

NYSE:PEG opened at $65.74 on Friday. The company’s fifty-day moving average is $63.84 and its 200-day moving average is $61.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $67.51. The company has a market cap of $32.78 billion, a price-to-earnings ratio of 12.81, a price-to-earnings ratio of 2.88, and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The energy supplier reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company posted earnings per share of $0.64. The company’s quarterly revenue fell 17.0% year over year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group dividend announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28. Investors of record on Friday, June 7 will receive a dividend of $0.60 per share. The ex-dividend date is Friday, June 7. This represents a dividend of $2.40 annually and a dividend yield of 3.65%. Public Service Enterprise Group’s payout ratio currently stands at 46.78%.

Analyst upgrades and downgrades

Several equity research analysts have recently released reports on PEG stock. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4. Barclays raised their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7. Finally, Bank of America raised their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Check out our latest stock report on PEG

Public Service Enterprise Group Company Profile

(Free report)

Public Service Enterprise Group Incorporated, through its subsidiaries, is active in the electricity and gas sectors in the United States. It operates through the PSE&G and PSEG Power segments. The PSE&G segment transports electricity; distributes electricity and natural gas to residential, commercial and industrial customers; and appliance services and repairs to customers through its service area, and also invests in solar power generation projects, and energy efficiency and related programs.

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



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