DnB Asset Management AS Boosts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

DnB Asset Management AS lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 90,602 shares of the utilities provider’s stock after buying an additional 753 shares during the period. DnB Asset Management AS’s holdings in Public Service Enterprise Group were worth $5,733,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PEG. FinTrust Capital Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 16.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,041 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 148 shares during the period. Whittier Trust Co. grew its stake in Public Service Enterprise Group by 4.6% in the first quarter. Whittier Trust Co. now owns 4,098 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 179 shares during the period. Huntington National Bank grew its stake in Public Service Enterprise Group by 2.4% in the first quarter. Huntington National Bank now owns 8,186 shares of the utilities provider’s stock worth $573,000 after purchasing an additional 193 shares during the period. Louisiana State Employees Retirement System raised its holdings in Public Service Enterprise Group by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,900 shares of the utilities provider’s stock worth $2,384,000 after purchasing an additional 200 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Public Service Enterprise Group by 3.8% during the first quarter. Los Angeles Capital Management LLC now owns 5,475 shares of the utilities provider’s stock valued at $383,000 after buying an additional 202 shares during the period. 71.01% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG opened at $66.36 on Monday. The firm has a 50 day moving average price of $65.06 and a 200-day moving average price of $66.66. Public Service Enterprise Group Incorporated has a twelve month low of $58.19 and a twelve month high of $75.61. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.78 and a quick ratio of 0.68.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.25%. Public Service Enterprise Group’s dividend payout ratio is currently -110.20%.

Insider Activity

In related news, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now directly owns 447,656 shares in the company, valued at $28,717,132.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ralph Izzo sold 9,883 shares of Public Service Enterprise Group stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the transaction, the chief executive officer now directly owns 447,656 shares in the company, valued at $28,717,132.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $65.75, for a total value of $69,300.50. Following the completion of the sale, the chief operating officer now owns 62,313 shares of the company’s stock, valued at approximately $4,097,079.75. The disclosure for this sale can be found here. Insiders sold 22,274 shares of company stock valued at $1,446,725 in the last quarter. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Mizuho decreased their target price on shares of Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $75.00 to $81.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group boosted their target price on Public Service Enterprise Group to $69.00 in a report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Public Service Enterprise Group Company 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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