OneAscent Financial Services LLC grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 82.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,686 shares of the utilities provider's stock after buying an additional 3,029 shares during the quarter. OneAscent Financial Services LLC's holdings in Public Service Enterprise Group were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its stake in shares of Public Service Enterprise Group by 6.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock valued at $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $298,000. Exchange Traded Concepts LLC raised its stake in Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after acquiring an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after acquiring an additional 3,601 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in Public Service Enterprise Group in the first quarter valued at $329,000. 73.34% of the stock is owned by institutional investors.
Public Service Enterprise Group Price Performance
PEG stock opened at $84.43 on Tuesday. The firm has a market cap of $42.13 billion, a P/E ratio of 23.07, a P/E/G ratio of 3.02 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $73.83 and a 12 month high of $95.22. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The company's 50-day moving average price is $80.98 and its two-hundred day moving average price is $82.05.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. Public Service Enterprise Group's quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.31 earnings per share. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.98%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.
Insider Activity
In related 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 value of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, 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 the SEC website. Corporate insiders own 0.19% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Guggenheim reduced their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday. BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Morgan Stanley cut their price objective 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. Finally, Barclays decreased their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $89.86.
Check Out Our Latest Stock Analysis on Public Service Enterprise Group
About Public Service Enterprise Group
(
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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