Sigma Planning Corp grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 41.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,593 shares of the utilities provider’s stock after purchasing an additional 2,500 shares during the period. Sigma Planning Corp’s holdings in Public Service Enterprise Group were worth $527,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Public Service Enterprise Group by 5.0% during the 3rd quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock worth $3,060,399,000 after purchasing an additional 2,576,034 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Public Service Enterprise Group by 24.4% in the second quarter. Legal & General Group Plc now owns 6,965,031 shares of the utilities provider’s stock valued at $440,749,000 after acquiring an additional 1,363,974 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Public Service Enterprise Group by 48.8% in the second quarter. Goldman Sachs Group Inc. now owns 4,089,778 shares of the utilities provider’s stock worth $258,802,000 after purchasing an additional 1,341,818 shares in the last quarter. Prudential Financial Inc. lifted its position in Public Service Enterprise Group by 196.2% during the 1st quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock worth $132,451,000 after buying an additional 1,253,283 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 2.7% during the first quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock valued at $3,055,836,000 after purchasing an additional 1,159,331 shares during the last quarter. Institutional investors own 70.67% of the company’s stock.
Analyst Upgrades and Downgrades
PEG has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Public Service Enterprise Group from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 21st. LADENBURG THALM/SH SH started coverage on shares of Public Service Enterprise Group in a report on Monday, April 3rd. They set a “neutral” rating and a $60.50 price objective on the stock. TheStreet raised shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. StockNews.com began coverage on shares of Public Service Enterprise Group in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, March 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.95.
Public Service Enterprise Group Stock Up 0.2 %
Public Service Enterprise Group stock opened at $63.31 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $75.61. The stock has a market cap of $31.58 billion, a P/E ratio of 30.73, a P/E/G ratio of 4.27 and a beta of 0.56. The company’s 50-day moving average price is $60.34 and its two-hundred day moving average price is $59.52. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Public Service Enterprise Group had a net margin of 10.52% and a return on equity of 12.88%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company posted $0.69 earnings per share. Public Service Enterprise Group’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.60%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio is presently 110.68%.
Insider Activity at Public Service Enterprise Group
In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of Public Service Enterprise Group stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the transaction, the chief operating officer now owns 6,482 shares in the company, valued at $373,557.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.
About Public Service Enterprise Group
Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.
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