Public Service Enterprise Group Inc. (PEG) Position Boosted by National Pension Service

National Pension Service lifted its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,389 shares of the utilities provider’s stock after purchasing an additional 8,918 shares during the period. National Pension Service owned about 0.10% of Public Service Enterprise Group worth $25,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in PEG. Grove Bank & Trust increased its stake in shares of Public Service Enterprise Group by 209.4% in the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 1,539 shares in the last quarter. IHT Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 45.9% in the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after purchasing an additional 202 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Public Service Enterprise Group by 13.8% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 424 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $185,000. Finally, Evercore Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 5.0% in the 2nd quarter. Evercore Wealth Management LLC now owns 4,323 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 66.68% of the company’s stock.

In related news, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total value of $1,653,960.00. Following the transaction, the chief operating officer now directly owns 81,241 shares in the company, valued at approximately $4,071,798.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 6,427 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $49.45, for a total value of $317,815.15. Following the completion of the transaction, the chairman now owns 708,728 shares in the company, valued at $35,046,599.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,071 shares of company stock worth $7,275,472. 0.61% of the stock is owned by company insiders.

Shares of Public Service Enterprise Group Inc. (PEG) opened at $49.80 on Friday. The company has a market capitalization of $25,170.37, a P/E ratio of 48.35, a price-to-earnings-growth ratio of 5.93 and a beta of 0.41. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. Public Service Enterprise Group’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. equities analysts anticipate that Public Service Enterprise Group Inc. will post 2.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio is currently 166.99%.

PEG has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Guggenheim restated a “buy” rating and issued a $58.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, January 3rd. Morgan Stanley lifted their price target on Public Service Enterprise Group from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Finally, Wells Fargo & Co upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $51.32.

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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.

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

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