Cribstone Capital Management LLC held its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,881 shares of the utilities provider’s stock at the end of the second quarter. Cribstone Capital Management LLC’s holdings in Public Service Enterprise Group were worth $296,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after buying an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. increased its stake in 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. Caisse DE Depot ET Placement DU Quebec increased its stake in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the last quarter. 65.98% of the stock is owned by institutional investors and hedge funds.
Public Service Enterprise Group Incorporated (PEG) opened at 45.70 on Friday. The company has a 50 day moving average price of $43.59 and a 200-day moving average price of $44.08. The firm has a market capitalization of $23.12 billion, a price-to-earnings ratio of 51.35 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.14.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the business earned $0.57 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.76%. Public Service Enterprise Group’s dividend payout ratio is presently 193.26%.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday. Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. BidaskClub upgraded Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. 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 target for the company. Finally, Barclays PLC boosted their price target on Public Service Enterprise Group from $43.00 to $45.00 and gave the company 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 issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.30.
In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the sale, the chairman now directly owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group 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. In the last 90 days, insiders have sold 77,421 shares of company stock worth $3,389,397. 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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