Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Raised by First Hawaiian Bank

First Hawaiian Bank grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,398 shares of the utilities provider’s stock after purchasing an additional 800 shares during the period. First Hawaiian Bank’s holdings in Public Service Enterprise Group were worth $377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Public Service Enterprise Group by 0.8% during the fourth quarter. State Street Corp now owns 28,379,042 shares of the utilities provider’s stock valued at $1,893,733,000 after purchasing an additional 219,401 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Public Service Enterprise Group by 24.0% during the fourth quarter. Capital Research Global Investors now owns 22,864,793 shares of the utilities provider’s stock valued at $1,525,768,000 after purchasing an additional 4,425,830 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Public Service Enterprise Group by 40.3% during the fourth quarter. Nordea Investment Management AB now owns 9,775,333 shares of the utilities provider’s stock valued at $647,714,000 after purchasing an additional 2,808,491 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 9,626,846 shares of the utilities provider’s stock valued at $640,751,000 after purchasing an additional 133,384 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Public Service Enterprise Group by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,329,900 shares of the utilities provider’s stock valued at $555,855,000 after purchasing an additional 640,728 shares during the last quarter. 70.82% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $68.95, for a total transaction of $681,432.85. Following the transaction, the chief executive officer now owns 464,270 shares of the company’s stock, valued at approximately $32,011,416.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 30,249 shares of company stock worth $2,092,304. 0.55% of the stock is currently owned by insiders.

Several brokerages have recently commented on PEG. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Credit Suisse Group initiated coverage on Public Service Enterprise Group in a research report on Monday, April 25th. They set a “neutral” rating and a $76.00 price target on the stock. Citigroup initiated coverage on Public Service Enterprise Group in a research report on Tuesday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. TheStreet lowered Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. Finally, Morgan Stanley dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.09.

Shares of PEG stock opened at $60.43 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.89 and a quick ratio of 0.79. Public Service Enterprise Group Incorporated has a fifty-two week low of $58.19 and a fifty-two week high of $75.61. The stock’s 50-day moving average is $67.73 and its two-hundred day moving average is $66.92. The firm has a market cap of $30.17 billion, a P/E ratio of -23.51, a PEG ratio of 2.96 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last issued its earnings results on Tuesday, May 3rd. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.22. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.70 billion. Public Service Enterprise Group had a positive return on equity of 12.94% and a negative net margin of 14.19%. The business’s revenue was down 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, June 8th. Public Service Enterprise Group’s dividend payout ratio is -84.05%.

Public Service Enterprise Group Profile (Get Rating)

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 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.

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

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