Public Service Enterprise Group (PEG) Position Lifted by Forsta AP Fonden

Forsta AP Fonden increased its holdings in shares of Public Service Enterprise Group (NYSE:PEG) by 406.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 368,101 shares of the utilities provider’s stock after acquiring an additional 295,400 shares during the period. Forsta AP Fonden owned approximately 0.07% of Public Service Enterprise Group worth $18,493,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its holdings in Public Service Enterprise Group by 1.4% during the fourth quarter. BlackRock Inc. now owns 48,420,436 shares of the utilities provider’s stock worth $2,493,654,000 after acquiring an additional 674,875 shares during the period. Bank of New York Mellon Corp grew its holdings in Public Service Enterprise Group by 14.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,947,022 shares of the utilities provider’s stock worth $357,772,000 after acquiring an additional 892,228 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Public Service Enterprise Group by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,820,656 shares of the utilities provider’s stock worth $191,950,000 after acquiring an additional 15,388 shares during the period. Allianz Asset Management GmbH grew its holdings in Public Service Enterprise Group by 14.0% during the fourth quarter. Allianz Asset Management GmbH now owns 3,590,147 shares of the utilities provider’s stock worth $184,892,000 after acquiring an additional 441,556 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Public Service Enterprise Group by 3.6% during the first quarter. Wells Fargo & Company MN now owns 2,768,255 shares of the utilities provider’s stock worth $139,077,000 after acquiring an additional 97,141 shares during the period. 68.60% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group opened at $49.56 on Friday, Marketbeat.com reports. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 3.42 and a beta of 0.38. Public Service Enterprise Group has a fifty-two week low of $49.75 and a fifty-two week high of $50.28.



Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, April 30th. The utilities provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.02). The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.74 billion. Public Service Enterprise Group had a net margin of 21.68% and a return on equity of 11.22%. During the same period last year, the company posted $0.92 EPS. equities analysts predict that Public Service Enterprise Group will post 3.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, June 7th. Public Service Enterprise Group’s payout ratio is currently 61.43%.

A number of research analysts recently weighed in on the company. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup upped their price objective on Public Service Enterprise Group from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, May 4th. UBS assumed coverage on Public Service Enterprise Group in a report on Friday, February 2nd. They set a “neutral” rating and a $52.00 price objective on the stock. JPMorgan Chase upped their price objective on Public Service Enterprise Group from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, April 10th. Finally, Morgan Stanley upped their target price on Public Service Enterprise Group from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, March 8th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $51.89.

In related news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $49.90, for a total transaction of $1,039,566.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 16,400 shares of the stock in a transaction on Monday, April 16th. The shares were sold at an average price of $50.36, for a total value of $825,904.00. Following the sale, the executive vice president now directly owns 51,604 shares in the company, valued at approximately $2,598,777.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,899 shares of company stock worth $3,956,687. Corporate insiders own 0.58% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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