In a recent filing with the Securities and Exchange Commission (SEC), &MGO One Seven LLC disclosed that it has acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG). According to the report, the fund has purchased 4,506 shares from the utilities provider’s stock with a total value of $276,000.
Public Service Enterprise Group has been generating interest among investors lately as it continues to receive high ratings from various research firms. In fact, TheStreet recently upgraded PEG from “c” to “b,” while Mizuho gave it a “buy” rating and lowered its target price from $66 to $60. Another research firm, StockNews.com also gave PEG a positive outlook as they issued an optimistic hold rating on its stocks. However, Ladenburg Thalm/Sh SH gave a neutral rating and set a $60.50 price target for PEG.
The current consensus rating for PEG stock is “Hold,” based on data from Bloomberg. It currently has an average price target of $65.95 according to market analysts.
On Friday, shares of PEG opened at $63.31 with a market cap of $31.58 billion and a price-to-earnings ratio of 30.73. Its beta is noted to be at 0.56 while its quick ratio stands at 0.50, indicating how liquid the company is in meeting immediate financial obligations.
Public Service Enterprise Group Incorpated’s performance over the previous year had both ups and downs – reaching highs of around $75 but also hitting lows at just above $52 per share within that period.
With analyst reports mixed but generally positive towards Public Service Enterprise Group, those who are looking into this industry may consider taking closers looks into PEG’s fundamentals before making any investment decisions in it or any other similar companies during these uncertain times when industries face volatile changes which could impact their financial results.
Public Service Enterprise Group: A Look at Institutional Investments, Insider News, and Earnings Results
Public Service Enterprise Group: A Closer Look
Public Service Enterprise Group (NYSE:PEG) has been in the news lately as several institutional investors and hedge funds have recently bought and sold shares of the utilities provider’s stock, boosting their holdings in the company. D.A. Davidson & CO. increased its holdings in Public Service Enterprise Group by 7.5%, now owning 3,657 shares of the company’s stock valued at $256,000 after purchasing an additional 256 shares last quarter.
Moreover, Dimensional Fund Advisors LP boosted its stake in Public Service Enterprise Group by 6.7% during the first quarter, now holding 1,318,721 shares of the utilities provider’s stock with an approximate value of $92,310,000 after buying an additional 83,174 shares last quarter. Additionally, Prudential PLC invested a new stake in Public Service Enterprise Group valued at $798,000 while Cetera Investment Advisers grew its position by 1.3%, owning now about 25,619 shares of the utilities provider’s stock that are estimated to be worth $1,793 million after acquiring an additional 332 shares over the period.
Finally, Sequoia Financial Advisors LLC acquired a new position in Public Service Enterprise Group during the first quarter worth $214 million; institutional investors currently own about 70.67% of the company’s stock.
Regarding Corporate insiders’ news on March13th Eric Carr- Company’s Chief Operating Officer sold off about 7 thousand shares of Public Service Enterprise Group’s stock for approximated value around $409 thousand dollars; following his sale completion he owns now approximately over six-thousand stocks from PEG’s worth about $373 thousand dollars.
TheStreet upgraded Public Service Enterprise Group’s rating from “c” to “b” on February21st; while Morgan Stanley decreased their price objective on PEG from $68 to $64 and set an overweight rating on the stock. Additionally, Mizuho cut its target price on Public Service Enterprise Group from $66 to $60 and set a “buy” rating for the firm on March 13th. Stocknews.com started coverage on Public Service Enterprise Group in a report issued on March 16 with hold rating while finally Ladenburg Thalmann also covered PEG and set upon the company a neutral rating combined with a $60.50 price target.
Public Service Enterprise Group’s last earnings results disclosed were reported by the utilities provider on February21st; this quarter showed encouraging figures reporting an increase in revenue up to $3.14 billion, compared to analysts’ projected estimate of $2.54 billion, and a net margin of 10.52% confirming analysts’ projections of $0.62 EPS with actual reported earnings at $0.64 EPS.
Finally, Public Service Enterprise Group announced a quarterly dividend payment date which was issued to shareholders of record as of Friday, March10th -a boost from previous quarterly dividend paid-. Shareholders received about $0.57 per share paid out last31st of March that represent a dividend payout ratio (DPR) calculated at around 110.68%.
