Pictet Asset Management SA lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 7.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,907,117 shares of the utilities provider’s stock after buying an additional 277,397 shares during the quarter. Pictet Asset Management SA owned approximately 0.78% of Public Service Enterprise Group worth $219,697,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Destiny Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 304.5% during the 3rd quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock worth $25,000 after buying an additional 341 shares during the last quarter. Tradition Wealth Management LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $33,000. Benjamin F. Edwards & Company Inc. raised its stake in Public Service Enterprise Group by 112.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 725 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 383 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in Public Service Enterprise Group by 45.3% in the 2nd quarter. Janiczek Wealth Management LLC now owns 738 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. Finally, Clear Perspectives Financial Planning LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Public Service Enterprise Group Trading Up 0.0 %
Shares of PEG stock opened at $61.77 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $52.51 and a 1 year high of $75.61. The stock has a fifty day moving average of $61.27 and a two-hundred day moving average of $61.25. The firm has a market capitalization of $30.82 billion, a PE ratio of 45.42, a price-to-earnings-growth ratio of 7.63 and a beta of 0.56.
Public Service Enterprise Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s payout ratio is currently 158.82%.
Analyst Ratings Changes
A number of research firms recently issued reports on PEG. Mizuho dropped their target price on shares of Public Service Enterprise Group from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, November 22nd. StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. Wolfe Research downgraded Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a report on Thursday, November 17th. Finally, Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.20.
Public Service Enterprise Group Profile
Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.
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