Public Service Enterprise Group Inc. (NYSE:PEG) Shares Purchased by Bank of The West

Bank of The West lifted its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 30.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,813 shares of the utilities provider’s stock after acquiring an additional 1,130 shares during the period. Bank of The West’s holdings in Public Service Enterprise Group were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PEG. PrairieView Partners LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $27,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $30,000. HBC Financial Services PLLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $31,000. Centerpoint Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 70.6% in the 1st quarter. Centerpoint Advisors LLC now owns 725 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 300 shares during the period. Finally, Great Diamond Partners LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $43,000. 69.47% of the stock is owned by institutional investors.

Public Service Enterprise Group stock opened at $48.07 on Friday. The firm has a market cap of $24.65 billion, a PE ratio of 16.99, a P/E/G ratio of 4.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.57 and a current ratio of 0.72. The firm’s 50 day moving average price is $49.39 and its two-hundred day moving average price is $54.83. Public Service Enterprise Group Inc. has a twelve month low of $34.75 and a twelve month high of $63.88.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.25 billion. Public Service Enterprise Group had a net margin of 14.59% and a return on equity of 10.92%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. Equities analysts anticipate that Public Service Enterprise Group Inc. will post 3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $1.96 annualized dividend and a yield of 4.08%. Public Service Enterprise Group’s dividend payout ratio is presently 59.76%.

A number of research firms recently commented on PEG. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $71.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Argus restated a “buy” rating and set a $75.00 price target on shares of Public Service Enterprise Group in a report on Thursday, April 16th. Wolfe Research upgraded shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Tuesday, March 31st. BMO Capital Markets began coverage on shares of Public Service Enterprise Group in a report on Wednesday, February 19th. They set a “market perform” rating and a $63.00 price target on the stock. Finally, Royal Bank of Canada restated a “buy” rating and set a $54.00 price target on shares of Public Service Enterprise Group in a report on Thursday, April 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $60.88.

In other Public Service Enterprise Group news, CFO Daniel J. Cregg sold 625 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $52.14, for a total value of $32,587.50. Following the completion of the sale, the chief financial officer now directly owns 79,278 shares of the company’s stock, valued at $4,133,554.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

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; 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.

See Also: Ex-Dividend

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

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