Dimensional Fund Advisors LP increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 897,109 shares of the utilities provider’s stock after buying an additional 37,527 shares during the period. Dimensional Fund Advisors LP owned about 0.18% of Public Service Enterprise Group worth $39,783,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Parallel Advisors LLC increased 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. Blackstart Capital LP increased its position in shares of Public Service Enterprise Group by 107.7% in the first quarter. Blackstart Capital LP now owns 279,758 shares of the utilities provider’s stock valued at $12,407,000 after buying an additional 145,037 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 3.4% in the first quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock valued at $241,006,000 after buying an additional 178,078 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Public Service Enterprise Group by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 67,312 shares of the utilities provider’s stock valued at $2,985,000 after buying an additional 487 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the last quarter. 66.17% of the stock is currently owned by hedge funds and other institutional investors.
Public Service Enterprise Group Incorporated (PEG) opened at 44.72 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.67. The stock has a 50 day moving average price of $43.62 and a 200 day moving average price of $44.04. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 43.00 and a beta of 0.38.
Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business posted $0.91 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 earnings per share for the current 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 issued a $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a yield of 3.85%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 165.39%.
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Several research analysts have commented on the company. Wolfe Research raised Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. BidaskClub downgraded Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.10.
In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total value of $87,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The disclosure for this sale can be found here. Insiders sold 86,021 shares of company stock valued at $3,733,335 over the last 90 days. 0.61% of the stock is currently 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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