Public Service Enterprise Group Inc. (PEG) Stake Increased by Motco – Fairfield Current


Motco grew its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 112,873 shares of the utilities provider’s stock after acquiring an additional 446 shares during the quarter. Motco’s holdings in Public Service Enterprise Group were worth $5,875,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in Public Service Enterprise Group by 4.0% in the second quarter. FMR LLC now owns 4,829,070 shares of the utilities provider’s stock worth $261,445,000 after purchasing an additional 184,169 shares during the period. First Hawaiian Bank acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $194,000. Steward Partners Investment Advisory LLC increased its position in shares of Public Service Enterprise Group by 146.1% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 18,348 shares of the utilities provider’s stock worth $969,000 after purchasing an additional 10,893 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Public Service Enterprise Group by 20.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,328,952 shares of the utilities provider’s stock worth $228,525,000 after purchasing an additional 729,547 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Public Service Enterprise Group by 10.0% during the 3rd quarter. First Trust Advisors LP now owns 1,091,890 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 99,618 shares during the last quarter. Hedge funds and other institutional investors own 66.78% of the company’s stock.

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Several research analysts have weighed in on the company. Zacks Investment Research lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price target on the stock in a research report on Thursday, January 17th. reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Monday, November 5th. Finally, Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.13.

PEG stock opened at $57.30 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90. The company has a market cap of $28.96 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.68 and a beta of 0.43. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $57.63.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $0.47 dividend. The ex-dividend date is Thursday, March 7th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 3.28%. Public Service Enterprise Group’s payout ratio is 61.43%.

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In related news, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $55.39, for a total value of $2,902,823.73. Following the completion of the sale, the chairman now directly owns 515,233 shares in the company, valued at approximately $28,538,755.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ralph A. Larossa sold 25,046 shares of the business’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $55.57, for a total value of $1,391,806.22. The disclosure for this sale can be found here. Insiders sold a total of 182,266 shares of company stock valued at $9,806,747 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

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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; and 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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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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