Simplicity Solutions LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,030 shares of the utilities provider’s stock after selling 1,767 shares during the period. Simplicity Solutions LLC’s holdings in Public Service Enterprise Group were worth $737,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Public Service Enterprise Group by 5.0% in the third quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock valued at $3,060,399,000 after purchasing an additional 2,576,034 shares during the period. Prudential Financial Inc. raised its position in shares of Public Service Enterprise Group by 196.2% in the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock valued at $132,451,000 after purchasing an additional 1,253,283 shares during the period. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 2.7% in 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 period. Thrivent Financial for Lutherans raised its position in shares of Public Service Enterprise Group by 4,602.6% in the third quarter. Thrivent Financial for Lutherans now owns 996,338 shares of the utilities provider’s stock valued at $56,024,000 after purchasing an additional 975,151 shares during the period. Finally, Pendal Group Ltd raised its position in shares of Public Service Enterprise Group by 97.6% in the third quarter. Pendal Group Ltd now owns 1,732,580 shares of the utilities provider’s stock valued at $97,423,000 after purchasing an additional 855,947 shares during the period. Institutional investors own 70.67% of the company’s stock.
Insider Buying and Selling at Public Service Enterprise Group
In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $57.63, for a total transaction of $409,461.15. Following the completion of the sale, the chief operating officer now owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.
Public Service Enterprise Group Price Performance
Shares of NYSE:PEG opened at $63.96 on Friday. The company’s fifty day moving average price is $60.80 and its 200-day moving average price is $59.75. The firm has a market capitalization of $31.90 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 4.30 and a beta of 0.56. Public Service Enterprise Group Incorporated has a one year low of $52.51 and a one year high of $75.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.42 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, June 8th. This represents a $2.28 annualized dividend and a yield of 3.56%. Public Service Enterprise Group’s payout ratio is currently 110.68%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented 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. Guggenheim decreased their target price on shares of Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 14th. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, StockNews.com initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, March 16th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.15.
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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