Public Service Enterprise Group Incorporated (NYSE:PEG) Position Increased by Yousif Capital Management LLC

Yousif Capital Management LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 100,546 shares of the utilities provider’s stock after acquiring an additional 1,147 shares during the period. Yousif Capital Management LLC’s holdings in Public Service Enterprise Group were worth $6,160,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PEG. BlackRock Inc. grew its position in shares of Public Service Enterprise Group by 5.0% during the third quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock worth $3,060,399,000 after acquiring an additional 2,576,034 shares during the last quarter. Legal & General Group Plc lifted its holdings in Public Service Enterprise Group by 24.4% in the second quarter. Legal & General Group Plc now owns 6,965,031 shares of the utilities provider’s stock worth $440,749,000 after purchasing an additional 1,363,974 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Public Service Enterprise Group by 48.8% in the second quarter. Goldman Sachs Group Inc. now owns 4,089,778 shares of the utilities provider’s stock worth $258,802,000 after purchasing an additional 1,341,818 shares during the period. Prudential Financial Inc. lifted its holdings in Public Service Enterprise Group by 196.2% in the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock worth $132,451,000 after purchasing an additional 1,253,283 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 2.7% in the first quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock worth $3,055,836,000 after purchasing an additional 1,159,331 shares during the period. Institutional investors own 70.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Guggenheim reduced their price objective on shares of Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, February 22nd. Mizuho reduced their price objective on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a report on Monday, March 13th. Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, March 13th. Finally, TheStreet raised shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a report on Tuesday, February 21st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.20.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the sale, the chief operating officer now owns 6,482 shares in the company, valued at approximately $373,557.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $58.53 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $75.61. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 10.04 and a beta of 0.55. The firm has a 50-day moving average of $60.74 and a two-hundred day moving average of $60.14.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.54 billion. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.54. Public Service Enterprise Group’s payout ratio is presently 110.68%.

Public Service Enterprise Group Company Profile

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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.