NBC Securities Inc. Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

NBC Securities Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 655.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,029 shares of the utilities provider’s stock after buying an additional 42,535 shares during the quarter. NBC Securities Inc.’s holdings in Public Service Enterprise Group were worth $3,274,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEG. Kapitalo Investimentos Ltda boosted its holdings in shares of Public Service Enterprise Group by 391.6% during the 4th quarter. Kapitalo Investimentos Ltda now owns 14,688 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 11,700 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Public Service Enterprise Group by 99.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,042 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 520 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $615,000. HighPoint Advisor Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $535,000. Finally, Grayhawk Investment Strategies Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $478,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 3,148 shares of company stock valued at $212,750. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 0.3 %

Shares of PEG stock traded up $0.22 during trading hours on Wednesday, reaching $73.29. 2,546,298 shares of the stock traded hands, compared to its average volume of 2,452,539. The firm has a market capitalization of $36.50 billion, a PE ratio of 20.30, a PEG ratio of 3.04 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average price of $71.41 and a 200 day moving average price of $65.21.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the business earned $1.39 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.27%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Analysts Set New Price Targets

Several analysts have issued reports on PEG shares. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley raised their price objective on Public Service Enterprise Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company raised their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.67.

View Our Latest Analysis on PEG

Public Service Enterprise Group Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.

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

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