LMR Partners LLP raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 86.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,251 shares of the utilities provider’s stock after buying an additional 11,232 shares during the period. LMR Partners LLP’s holdings in Public Service Enterprise Group were worth $1,043,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Welch & Forbes LLC boosted its stake in Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares during the period. Parallel Advisors LLC boosted its stake in 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 worth $114,000 after buying an additional 20 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after buying an additional 38 shares during the period. Advisor Partners LLC boosted its stake in Public Service Enterprise Group by 0.5% in the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock worth $435,000 after buying an additional 48 shares during the period. Finally, Trustmark National Bank Trust Department boosted its stake in Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock worth $274,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 66.32% of the company’s stock.
Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.68 on Friday. The company’s 50-day moving average is $44.33 and its 200 day moving average is $44.29. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.95. The firm has a market capitalization of $23.61 billion, a PE ratio of 52.45 and a beta of 0.38.
Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned $0.57 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.68%. Public Service Enterprise Group’s dividend payout ratio is presently 193.26%.
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A number of analysts have issued reports on the stock. Barclays PLC lifted their target price on shares of 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. BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, July 4th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus target price of $48.21.
In related news, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the completion of the transaction, the chairman now directly owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by company insiders.
Public Service Enterprise Group Company Profile
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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