MGO One Seven LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,506 shares of the utilities provider’s stock, valued at approximately $276,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its holdings in Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 256 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Public Service Enterprise Group by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock valued at $92,310,000 after buying an additional 83,174 shares in the last quarter. Prudential PLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at $798,000. Cetera Investment Advisers grew its position in Public Service Enterprise Group by 1.3% in the first quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock valued at $1,793,000 after acquiring an additional 332 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Public Service Enterprise Group during the first quarter worth $214,000. Institutional investors own 70.67% of the company’s stock.
Insider Transactions at Public Service Enterprise Group
In related news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 6,482 shares in the company, valued at $373,557.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.
Public Service Enterprise Group Price Performance
Shares of PEG stock opened at $63.31 on Friday. The firm has a market cap of $31.58 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 4.27 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 12 month low of $52.51 and a 12 month high of $75.61. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $60.34 and a 200 day moving average price of $59.55.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its 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 during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $2.28 dividend on an annualized basis and a yield of 3.60%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s dividend payout ratio (DPR) is 110.68%.
Analysts Set New Price Targets
PEG has been the topic of several recent analyst reports. TheStreet upgraded shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a research note on Tuesday, February 21st. Morgan Stanley decreased their price objective on shares of 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. Mizuho cut their target price on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 13th. StockNews.com started coverage on Public Service Enterprise Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, LADENBURG THALM/SH SH initiated coverage on Public Service Enterprise Group in a report on Monday, April 3rd. They set a “neutral” rating and a $60.50 price target for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.95.
Public Service Enterprise Group Company Profile
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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