Healthcare of Ontario Pension Plan Trust Fund Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,822 shares of the utilities provider’s stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Family Firm Inc. purchased a new stake in Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the second quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth about $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $48,000. Finally, Country Trust Bank purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $52,000. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,361 shares of company stock valued at $2,356,562 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Scotiabank increased their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.08.

Public Service Enterprise Group Trading Down 2.1 %

Shares of PEG opened at $92.30 on Tuesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company’s fifty day moving average is $89.31 and its 200 day moving average is $81.44. The stock has a market capitalization of $45.99 billion, a PE ratio of 22.68, a P/E/G ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 58.97%.

About Public Service Enterprise Group

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.