Kowal Investment Group LLC Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kowal Investment Group LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,285 shares of the utilities provider’s stock after selling 797 shares during the quarter. Kowal Investment Group LLC’s holdings in Public Service Enterprise Group were worth $262,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at $1,185,000. PATRIZIA Pty Ltd bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $5,158,000. Xponance Inc. grew its holdings in Public Service Enterprise Group by 4.6% during the third quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock valued at $3,655,000 after purchasing an additional 2,825 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its holdings in Public Service Enterprise Group by 97.7% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 140,087 shares of the utilities provider’s stock valued at $8,566,000 after purchasing an additional 69,236 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Public Service Enterprise Group by 58.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 397,477 shares of the utilities provider’s stock valued at $22,620,000 after purchasing an additional 146,463 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $66.78 on Monday. The firm has a market capitalization of $33.30 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.92 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $67.02. The business has a 50 day simple moving average of $61.48 and a 200-day simple moving average of $61.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.60 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

Analysts Set New Price Targets

Several research firms have issued reports on PEG. Bank of America boosted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets cut 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. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.38.

View Our Latest Stock Report on PEG

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last three months, insiders sold 6,574 shares of company stock valued at $419,108. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.

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

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