NEOS Investment Management LLC Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

NEOS Investment Management LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 35.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,063 shares of the utilities provider’s stock after buying an additional 1,855 shares during the quarter. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $1,344,000. Landscape Capital Management L.L.C. bought a new position in Public Service Enterprise Group during the third quarter worth $344,000. D.A. Davidson & CO. lifted its stake in Public Service Enterprise Group by 29.9% during the third quarter. D.A. Davidson & CO. now owns 6,046 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 1,391 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Public Service Enterprise Group by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,008 shares of the utilities provider’s stock worth $159,121,000 after purchasing an additional 34,191 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in Public Service Enterprise Group by 24.4% during the third quarter. Shell Asset Management Co. now owns 35,434 shares of the utilities provider’s stock worth $2,017,000 after purchasing an additional 6,944 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $74.86 on Thursday. The firm has a market capitalization of $37.29 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $75.82. The stock’s fifty day moving average is $70.22 and its 200-day moving average is $64.62.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock valued at $520,814 over the last three months. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PEG shares. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Mizuho increased their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company increased their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.92.

Get Our Latest Analysis on PEG

Public Service Enterprise Group 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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