Gulf International Bank UK Ltd reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,932 shares of the utilities provider’s stock after selling 5,220 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Public Service Enterprise Group were worth $2,502,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in PEG. D.A. Davidson & CO. boosted its holdings in Public Service Enterprise Group by 7.5% during the 1st quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 256 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 worth $92,310,000 after buying an additional 83,174 shares during the period. Prudential PLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $798,000. Cetera Investment Advisers lifted its holdings in Public Service Enterprise Group by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock worth $1,793,000 after buying an additional 332 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $214,000. 72.28% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on PEG shares. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. increased their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Barclays raised their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average target price of $65.05.
Get Our Latest Report on Public Service Enterprise Group
Public Service Enterprise Group Stock Down 0.1 %
PEG stock opened at $63.82 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $65.59. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The firm has a market cap of $31.82 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The business has a 50 day moving average of $60.60 and a 200 day moving average of $60.97.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a $0.60 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.76%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.
Insiders Place Their Bets
In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,374 shares of company stock valued at $406,268. Corporate insiders own 0.57% of the company’s stock.
Public Service Enterprise Group Profile
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.
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