Royal Bank of Canada Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Royal Bank of Canada increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,756,790 shares of the utilities provider's stock after purchasing an additional 306,972 shares during the period. Royal Bank of Canada owned approximately 0.55% of Public Service Enterprise Group worth $232,921,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $39,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 1.8%

Shares of NYSE:PEG traded down $1.43 on Wednesday, hitting $77.94. 3,480,205 shares of the company's stock were exchanged, compared to its average volume of 2,746,635. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22. The company has a market capitalization of $38.89 billion, a PE ratio of 19.15, 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. The firm's 50-day moving average is $80.87 and its 200 day moving average is $83.99.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 earnings per share. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Bank of America dropped their price target 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. Evercore ISI reduced their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $88.81.

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.