JARISLOWSKY FRASER Ltd Sells 190,100 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

JARISLOWSKY FRASER Ltd decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 541,507 shares of the utilities provider's stock after selling 190,100 shares during the period. JARISLOWSKY FRASER Ltd owned 0.11% of Public Service Enterprise Group worth $45,752,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PEG. Principal Financial Group Inc. grew its holdings in Public Service Enterprise Group by 3.1% during the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider's stock worth $53,756,000 after purchasing an additional 18,344 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Public Service Enterprise Group by 5.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,575 shares of the utilities provider's stock worth $7,367,000 after purchasing an additional 4,072 shares during the period. Czech National Bank grew its holdings in Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after purchasing an additional 6,545 shares during the period. Salem Investment Counselors Inc. grew its holdings in Public Service Enterprise Group by 67.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider's stock worth $95,000 after purchasing an additional 451 shares during the period. Finally, Wedmont Private Capital grew its holdings in Public Service Enterprise Group by 11.9% during the fourth quarter. Wedmont Private Capital now owns 6,112 shares of the utilities provider's stock worth $515,000 after purchasing an additional 649 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

PEG traded down $0.34 during trading on Wednesday, hitting $77.25. 3,171,067 shares of the stock traded hands, compared to its average volume of 2,719,135. The business has a 50 day moving average price of $80.86 and a 200 day moving average price of $84.29. The company has a market cap of $38.55 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.26%. Public Service Enterprise Group's payout ratio is presently 68.85%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim cut their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. StockNews.com downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Finally, Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.