Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Public Service Enterprise Group by 10.9% in the first quarter, acquiring a total of 733,229 shares worth approximately $60.3 million.
• Public Service Enterprise Group's recent quarterly earnings showed a net margin of 17.01% and a revenue increase of 16.7% year-over-year, with earnings per share hitting analysts' estimates at $1.43.
• Public Service Enterprise Group has a current consensus rating of "Hold", with an average target price of $90.50, and a recent dividend declaration of $0.63 per share reflecting a yield of 2.8%.

LPL Financial LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,229 shares of the utilities provider's stock after acquiring an additional 72,117 shares during the quarter. LPL Financial LLC owned approximately 0.15% of Public Service Enterprise Group worth $60,345,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEG. Assenagon Asset Management S.A. raised its position in Public Service Enterprise Group by 476.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after purchasing an additional 759,873 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Public Service Enterprise Group by 151.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider's stock worth $89,967,000 after buying an additional 640,949 shares during the period. Invesco Ltd. raised its holdings in 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 valued at $551,323,000 after acquiring an additional 604,978 shares in the last quarter. GAMMA Investing LLC lifted its stake in Public Service Enterprise Group by 8,465.1% in the first quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider's stock worth $48,300,000 after acquiring an additional 580,029 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Public Service Enterprise Group by 15.7% in the fourth 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 worth $337,709,000 after acquiring an additional 542,671 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PEG shares. Guggenheim reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average target price of $90.50.

Public Service Enterprise Group Price Performance

PEG stock opened at $89.82 on Friday. 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 capitalization of $44.82 billion, a P/E ratio of 24.54, a PEG ratio of 3.18 and a beta of 0.48. The business has a 50 day simple moving average of $82.59 and a 200-day simple moving average of $82.23. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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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