UniSuper Management Pty Ltd Buys 16,160 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

UniSuper Management Pty Ltd raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 354.2% in the 1st quarter, HoldingsChannel reports. The firm owned 20,722 shares of the utilities provider’s stock after acquiring an additional 16,160 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Public Service Enterprise Group were worth $1,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Allspring Global Investments Holdings LLC increased its position in shares of Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after acquiring an additional 17,838 shares in the last quarter. Jennison Associates LLC increased its position in shares of Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after acquiring an additional 397,606 shares in the last quarter. TD Asset Management Inc increased its position in shares of Public Service Enterprise Group by 16.6% during the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after acquiring an additional 53,577 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares in the last quarter. Finally, Reaves W H & Co. Inc. increased its position in shares of Public Service Enterprise Group by 4.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 904,228 shares of the utilities provider’s stock worth $55,294,000 after acquiring an additional 36,745 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PEG. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 3rd. Scotiabank decreased their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Bank of America upped their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Barclays upped their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.17.

Public Service Enterprise Group Stock Performance

PEG traded down $0.22 during midday trading on Tuesday, reaching $75.60. The company had a trading volume of 2,136,546 shares, compared to its average volume of 2,818,297. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The stock has a market cap of $37.65 billion, a PE ratio of 20.94, a P/E/G ratio of 2.95 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $77.46. The business has a 50-day moving average price of $74.25 and a two-hundred day moving average price of $67.42.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm’s revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

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.