DNB Asset Management AS raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,733 shares of the utilities provider’s stock after buying an additional 2,417 shares during the quarter. DNB Asset Management AS’s holdings in Public Service Enterprise Group were worth $5,854,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. M&R Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 4.9% during the 4th quarter. M&R Capital Management Inc. now owns 6,366 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 300 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $37,000. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 3.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,897 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 197 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Morgan Stanley boosted their price target on Public Service Enterprise Group from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 21st. BMO Capital Markets decreased their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.25.
Public Service Enterprise Group Trading Down 0.3 %
PEG stock opened at $63.78 on Friday. The company has a market cap of $31.80 billion, a P/E ratio of 12.43, a PEG ratio of 3.52 and a beta of 0.57. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $65.59. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $60.48 and a 200-day moving average of $60.91.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.
Insider Activity at Public Service Enterprise Group
In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,574 shares of company stock worth $418,428. 0.57% of the stock is owned by insiders.
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.
See Also
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