Continental Investors Services Inc. Acquires Shares of 3,584 Public Service Enterprise Group Incorporated (NYSE:PEG)

Continental Investors Services Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,584 shares of the utilities provider’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Destiny Wealth Partners LLC grew its position in shares of Public Service Enterprise Group by 304.5% in the third quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 341 shares during the last quarter. CI Investments Inc. grew its position in shares of Public Service Enterprise Group by 990.2% in the third quarter. CI Investments Inc. now owns 665 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 604 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Public Service Enterprise Group by 112.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 725 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 383 shares during the last quarter. CVA Family Office LLC grew its position in shares of Public Service Enterprise Group by 46.8% in the third quarter. CVA Family Office LLC now owns 800 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 255 shares during the last quarter. Finally, Clear Perspectives Financial Planning LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $50,000. Institutional investors own 70.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of analyst reports. StockNews.com initiated coverage on Public Service Enterprise Group in a research report on Thursday. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 22nd. BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, March 13th. Mizuho reduced their price target on Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, March 13th. Finally, Guggenheim reduced their price target on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.20.

Public Service Enterprise Group Stock Down 1.1 %

NYSE PEG opened at $58.53 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $52.51 and a fifty-two week high of $75.61. The stock has a market capitalization of $29.19 billion, a PE ratio of 28.41, a PEG ratio of 9.94 and a beta of 0.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50. The business has a fifty day moving average price of $60.74 and a two-hundred day moving average price of $60.14.

Public Service Enterprise Group (NYSE:PEGGet Rating) last announced its quarterly earnings results on Tuesday, February 21st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the company earned $0.69 EPS. Public Service Enterprise Group’s revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.43 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.90%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, March 9th. Public Service Enterprise Group’s dividend payout ratio is presently 110.68%.

Insider Activity

In other news, COO Eric Carr sold 7,105 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the transaction, the chief operating officer now directly owns 6,482 shares in the company, valued at approximately $373,557.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Public Service Enterprise Group Profile

(Get Rating)

Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.

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

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