Great West Life Assurance Co. Can decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,550 shares of the utilities provider’s stock after selling 9,999 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.08% of Public Service Enterprise Group worth $21,171,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Destiny Wealth Partners LLC boosted its holdings in Public Service Enterprise Group by 304.5% during the third quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 341 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Public Service Enterprise Group during the second quarter worth $30,000. Tradition Wealth Management LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $33,000. Total Clarity Wealth Management Inc. bought a new stake in Public Service Enterprise Group during the second quarter worth $34,000. Finally, WASHINGTON TRUST Co raised its position in Public Service Enterprise Group by 47.5% during the second quarter. WASHINGTON TRUST Co now owns 590 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on PEG. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 1st. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $64.00 to $59.00 and set a “market perform” rating on the stock in a research report on Monday, November 14th. Credit Suisse Group upped their price target on shares of Public Service Enterprise Group to $63.00 in a research report on Friday, November 4th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, December 15th. Finally, Guggenheim dropped their price objective on shares of Public Service Enterprise Group to $67.00 in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.45.
Public Service Enterprise Group Price Performance
NYSE:PEG opened at $62.90 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $52.51 and a 52 week high of $75.61. The firm has a market cap of $31.38 billion, a price-to-earnings ratio of 46.25, a P/E/G ratio of 5.47 and a beta of 0.56. The firm’s 50-day simple moving average is $60.30 and its 200 day simple moving average is $61.37. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last announced its quarterly earnings data on Monday, October 31st. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $1.98 billion. Public Service Enterprise Group had a net margin of 7.08% and a return on equity of 12.96%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.44 earnings per share for the current year.
Public Service Enterprise Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, December 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.43%. Public Service Enterprise Group’s payout ratio is 158.82%.
Public Service Enterprise Group Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
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