Sanibel Captiva Trust Company Inc. acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 194,795 shares of the utilities provider’s stock, valued at approximately $11,912,000.
A number of other institutional investors have also recently bought and sold shares of the business. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $31,000. Operose Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 435 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $37,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $42,000. Institutional investors own 73.34% of the company’s stock.
Public Service Enterprise Group Price Performance
NYSE PEG traded down $0.96 during trading hours on Friday, reaching $72.25. 743,451 shares of the stock traded hands, compared to its average volume of 2,795,039. The company has a market cap of $35.99 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.04 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $75.82. The stock has a 50 day simple moving average of $71.04 and a two-hundred day simple moving average of $64.99.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.
Insider Activity
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 3,148 shares of company stock worth $212,750 over the last 90 days. 0.57% of the stock is currently owned by insiders.
Analysts Set New Price Targets
PEG has been the subject of several analyst reports. Mizuho raised their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Wells Fargo & Company raised their price objective 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. Bank of America increased their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Scotiabank dropped their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $69.92.
View Our Latest Analysis on Public Service Enterprise Group
About Public Service Enterprise Group
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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