National Asset Management Inc. raised its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 54.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,886 shares of the utilities provider’s stock after buying an additional 5,258 shares during the period. National Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $879,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Zimmer Partners LP grew its holdings in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Zimmer Partners LP now owns 4,588,756 shares of the utilities provider’s stock worth $284,870,000 after acquiring an additional 62,929 shares during the period. Point72 Asset Management L.P. grew its position in shares of Public Service Enterprise Group by 74.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 201,233 shares of the utilities provider’s stock worth $12,493,000 after buying an additional 85,847 shares during the period. Stock Yards Bank & Trust Co. bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $349,000. Gradient Investments LLC increased its stake in shares of Public Service Enterprise Group by 5.3% in the 4th quarter. Gradient Investments LLC now owns 170,450 shares of the utilities provider’s stock worth $10,065,000 after acquiring an additional 8,628 shares in the last quarter. Finally, Bank of The West bought a new stake in Public Service Enterprise Group during the third quarter worth about $229,000. 59.35% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $58.59, for a total value of $36,618.75. Following the transaction, the chief financial officer now owns 54,648 shares of the company’s stock, valued at $3,201,826.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $58.55, for a total transaction of $96,607.50. Following the sale, the chief operating officer now owns 76,069 shares of the company’s stock, valued at $4,453,839.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,125 shares of company stock valued at $241,849. Company insiders own 0.51% of the company’s stock.
Several analysts recently weighed in on PEG shares. Wolfe Research downgraded Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price target on the stock. in a research note on Thursday, November 14th. Citigroup boosted their target price on Public Service Enterprise Group from $61.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Vertical Research began coverage on Public Service Enterprise Group in a report on Monday. They issued a “hold” rating and a $65.00 target price on the stock. Finally, UBS Group lowered their price target on Public Service Enterprise Group from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $64.00.
Shares of Public Service Enterprise Group stock traded down $1.56 during trading on Friday, hitting $51.31. 6,031,778 shares of the company’s stock traded hands, compared to its average volume of 2,906,382. Public Service Enterprise Group Inc. has a 1 year low of $50.14 and a 1 year high of $63.88. The business has a 50-day simple moving average of $59.02 and a 200-day simple moving average of $60.00. The stock has a market capitalization of $28.10 billion, a P/E ratio of 15.41, a PEG ratio of 4.70 and a beta of 0.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.75 and a quick ratio of 0.52.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.85 billion. Public Service Enterprise Group had a net margin of 16.80% and a return on equity of 11.23%. During the same period in the previous year, the business posted $0.56 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Inc. will post 3.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Monday, March 9th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.47. Public Service Enterprise Group’s payout ratio is 57.32%.
Public Service Enterprise Group Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and 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 to customers.
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