Canada Post Corp Registered Pension Plan Reduces Stock Position in Public Service Enterprise Group Incorporated $PEG

Canada Post Corp Registered Pension Plan trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 54.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,316 shares of the utilities provider’s stock after selling 22,935 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Public Service Enterprise Group were worth $1,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $27,000. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $27,000. Finally, GoalVest Advisory LLC boosted its stake in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Wells Fargo & Company raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $88.00 to $92.00 in a research report on Tuesday, January 20th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $90.00 in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Stock Up 1.1%

Shares of Public Service Enterprise Group stock opened at $80.68 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The stock has a market cap of $40.27 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.60 and a beta of 0.59. The firm’s 50-day moving average is $79.90 and its two-hundred day moving average is $82.15. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.