Toroso Investments LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,114 shares of the utilities provider’s stock after buying an additional 2,517 shares during the quarter. Toroso Investments LLC’s holdings in Public Service Enterprise Group were worth $917,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Union Savings Bank bought a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $28,000. ICA Group Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $31,000. Clear Street Markets LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth $31,000. Operose Advisors LLC grew its stake in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the period. Finally, CNB Bank bought a new stake in Public Service Enterprise Group in the third quarter valued at about $34,000. 72.28% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PEG has been the subject of several analyst reports. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Royal Bank of Canada upped their target price on shares of 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. JPMorgan Chase & Co. lifted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. Barclays boosted their price target on shares of Public Service Enterprise Group from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.25.
View Our Latest Research Report on Public Service Enterprise Group
Insider Activity
In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 1,774 shares of company stock valued at $110,364. 0.57% of the stock is owned by insiders.
Public Service Enterprise Group Stock Down 1.4 %
Shares of PEG stock opened at $64.01 on Wednesday. The firm’s fifty day moving average price is $60.35 and its two-hundred day moving average price is $60.86. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $65.59. The firm has a market capitalization of $31.91 billion, a P/E ratio of 12.48, a PEG ratio of 3.58 and a beta of 0.57.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the company earned $0.64 EPS. Public Service Enterprise Group’s revenue for the quarter was down 17.0% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.60 per share. 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 3.75%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; 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.
See Also
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