KBC Group NV boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,932 shares of the utilities provider’s stock after buying an additional 1,799 shares during the quarter. KBC Group NV’s holdings in Public Service Enterprise Group were worth $2,057,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of PEG. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 2.5% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 40,848 shares of the utilities provider’s stock worth $2,551,000 after acquiring an additional 1,002 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 33.4% in the fourth quarter. AE Wealth Management LLC now owns 228,045 shares of the utilities provider’s stock valued at $13,972,000 after buying an additional 57,095 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Public Service Enterprise Group by 1.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,790 shares of the utilities provider’s stock worth $2,485,000 after purchasing an additional 502 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its position in shares of Public Service Enterprise Group by 113.6% in the first quarter. Desjardins Global Asset Management Inc. now owns 8,445 shares of the utilities provider’s stock worth $527,000 after purchasing an additional 4,492 shares in the last quarter. Finally, FLC Capital Advisors bought a new stake in Public Service Enterprise Group during the fourth quarter worth $208,000. Institutional investors and hedge funds own 70.37% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. StockNews.com started coverage on shares of Public Service Enterprise Group in a research note on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group started coverage on shares of Public Service Enterprise Group in a report on Wednesday, June 7th. They issued a “neutral” rating and a $64.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Public Service Enterprise Group from $70.00 to $67.00 in a research report on Wednesday, June 7th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $66.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.55.
View Our Latest Report on Public Service Enterprise Group
Public Service Enterprise Group Price Performance
Public Service Enterprise Group stock opened at $61.19 on Friday. The company has a fifty day simple moving average of $62.46 and a 200-day simple moving average of $61.76. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $30.54 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.78 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52-week low of $52.51 and a 52-week high of $69.94.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Public Service Enterprise Group had a net margin of 23.99% and a return on equity of 12.90%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.45 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 3.73%. Public Service Enterprise Group’s dividend payout ratio is currently 41.01%.
Insider Activity
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 4,168 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $63.01, for a total transaction of $262,625.68. Following the sale, the chief executive officer now directly owns 122,572 shares in the company, valued at approximately $7,723,261.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ralph A. Larossa sold 4,168 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $63.01, for a total transaction of $262,625.68. Following the completion of the transaction, the chief executive officer now directly owns 122,572 shares in the company, valued at approximately $7,723,261.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 8,074 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $64.45, for a total value of $520,369.30. Following the sale, the chief executive officer now directly owns 115,306 shares in the company, valued at $7,431,471.70. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Public Service Enterprise Group Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
See Also
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