Mackenzie Financial Corp Has $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) by 27.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 115,215 shares of the utilities provider’s stock after selling 43,222 shares during the quarter. Mackenzie Financial Corp’s holdings 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 also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after buying 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% during the 1st quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’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 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’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% during the 3rd quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after purchasing an additional 170,586 shares during the last quarter. 73.34% of the stock is currently owned 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 business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer 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 through 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 14th. The shares were 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 in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $510,300 in the last quarter. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0 %

NYSE:PEG opened at $65.74 on Friday. The firm’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 firm has a market cap of $32.78 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS 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 in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was down 17.0% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.65%. Public Service Enterprise Group’s payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PEG shares. Evercore ISI lifted 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 4th. Barclays lifted 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 15th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. 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 7th. Finally, Bank of America boosted 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 22nd. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

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.