Meeder Asset Management Inc. cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,966 shares of the utilities provider’s stock after selling 30 shares during the period. Meeder Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $300,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after buying an additional 381 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after buying an additional 99 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock valued at $134,000 after buying an additional 543 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock valued at $147,000 after buying an additional 314 shares during the last quarter. Institutional investors own 66.42% of the company’s stock.
Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 44.72 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $46.68. The company’s 50-day moving average price is $43.62 and its 200 day moving average price is $44.04. The stock has a market capitalization of $22.62 billion, a PE ratio of 43.00 and a beta of 0.38.
Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.56 billion. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is presently 165.39%.
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Several brokerages have recently issued reports on PEG. Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Mizuho began coverage on Public Service Enterprise Group in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 price objective for the company. BidaskClub cut Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, Barclays PLC raised their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.10.
In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $43.82, for a total transaction of $1,314,600.00. Following the completion of the sale, the chairman now directly owns 748,691 shares of the company’s stock, valued at approximately $32,807,639.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ralph A. Larossa sold 24,021 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,021 shares of company stock valued at $3,733,335. 0.61% of the stock is owned by company insiders.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.
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