Perpetual Ltd lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 99.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,600 shares of the utilities provider’s stock after selling 1,374,305 shares during the period. Perpetual Ltd’s holdings in Public Service Enterprise Group were worth $240,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Operose Advisors LLC increased its position in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $31,000. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at about $36,000. Anchor Investment Management LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $37,000. Finally, Scarborough Advisors LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $41,000. 73.34% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Barclays upped their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Mizuho boosted their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Finally, Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.67.
Read Our Latest Stock Report on PEG
Insiders Place Their Bets
In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 2,948 shares of company stock valued at $199,910. 0.57% of the stock is currently owned by corporate insiders.
Public Service Enterprise Group Stock Down 0.8 %
NYSE:PEG opened at $73.01 on Friday. The company’s 50-day simple moving average is $71.83 and its 200-day simple moving average is $65.39. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $75.82. The stock has a market capitalization of $36.36 billion, a P/E ratio of 20.22, a P/E/G ratio of 3.06 and a beta of 0.59.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.
Public Service Enterprise Group Company 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.
See Also
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