Asset Management One Co. Ltd. reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 259,443 shares of the utilities provider’s stock after selling 3,707 shares during the period. Asset Management One Co. Ltd.’s holdings in Public Service Enterprise Group were worth $15,818,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 valued at $3,509,864,000 after acquiring an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. lifted 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 worth $1,879,225,000 after buying an additional 726,613 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Public Service Enterprise Group by 2.2% in 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 buying an additional 221,305 shares during the period. Legal & General Group Plc grew its position 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 buying an additional 87,974 shares during the last quarter. Finally, Northern Trust Corp grew its position 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 buying an additional 170,586 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
Public Service Enterprise Group Stock Up 0.6 %
Public Service Enterprise Group stock opened at $66.52 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.91 and a beta of 0.58. The company’s 50-day moving average price is $62.36 and its two-hundred day moving average price is $61.43. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) 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. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $0.60 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.61%. Public Service Enterprise Group’s dividend payout ratio is 46.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on PEG shares. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Evercore ISI boosted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Finally, TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.33.
Check Out Our Latest Analysis on Public Service Enterprise Group
Insider Activity at Public Service Enterprise Group
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $510,300 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.
Public Service Enterprise Group 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.
Featured Stories
Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report).
Receive News & Ratings for Public Service Enterprise Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Public Service Enterprise Group and related companies with MarketBeat.com’s FREE daily email newsletter.
