Cutler Investment Counsel LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 89.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,768 shares of the utilities provider's stock after acquiring an additional 3,195 shares during the period. Cutler Investment Counsel LLC's holdings in Public Service Enterprise Group were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in PEG. Assenagon Asset Management S.A. boosted its stake in shares of Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock worth $75,652,000 after acquiring an additional 759,873 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Public Service Enterprise Group by 151.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider's stock worth $89,967,000 after acquiring an additional 640,949 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Public Service Enterprise Group by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after acquiring an additional 604,978 shares during the last quarter. GAMMA Investing LLC grew its holdings in Public Service Enterprise Group by 8,465.1% in the 1st quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider's stock valued at $48,300,000 after buying an additional 580,029 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Service Enterprise Group by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock valued at $337,709,000 after buying an additional 542,671 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.
Public Service Enterprise Group Trading Down 0.9%
PEG traded down $0.82 during mid-day trading on Friday, hitting $88.97. 2,460,263 shares of the stock were exchanged, compared to its average volume of 2,284,674. The firm's fifty day moving average is $82.79 and its two-hundred day moving average is $82.26. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The company has a market cap of $44.40 billion, a PE ratio of 24.31, a PEG ratio of 3.21 and a beta of 0.48.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company earned $1.31 EPS. Public Service Enterprise Group's revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 2.8%. Public Service Enterprise Group's dividend payout ratio is 68.85%.
Insiders Place Their Bets
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts have issued reports on PEG shares. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Morgan Stanley dropped their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Guggenheim dropped their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets upped their target price on Public Service Enterprise Group from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI decreased their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $90.50.
Check Out Our Latest Stock Analysis on Public Service Enterprise Group
Public Service Enterprise Group Company Profile
(
Free Report)
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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