Alpha Paradigm Partners LLC Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Alpha Paradigm Partners LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,058 shares of the utilities provider’s stock after buying an additional 1,502 shares during the period. Alpha Paradigm Partners LLC’s holdings in Public Service Enterprise Group were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PEG. Price T Rowe Associates Inc. MD grew its stake in shares of Public Service Enterprise Group by 15.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,192,545 shares of the utilities provider’s stock worth $1,817,893,000 after buying an additional 4,055,897 shares during the last quarter. Franklin Resources Inc. boosted its stake in Public Service Enterprise Group by 99.4% during the 1st quarter. Franklin Resources Inc. now owns 4,390,981 shares of the utilities provider’s stock valued at $264,381,000 after purchasing an additional 2,188,676 shares during the last quarter. Bank of Montreal Can boosted its stake in Public Service Enterprise Group by 211.5% during the 2nd quarter. Bank of Montreal Can now owns 1,435,304 shares of the utilities provider’s stock valued at $86,564,000 after purchasing an additional 974,470 shares during the last quarter. OLD Republic International Corp boosted its stake in Public Service Enterprise Group by 82.4% during the 2nd quarter. OLD Republic International Corp now owns 1,217,500 shares of the utilities provider’s stock valued at $72,733,000 after purchasing an additional 550,000 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in Public Service Enterprise Group by 36.6% during the 1st quarter. APG Asset Management N.V. now owns 1,961,617 shares of the utilities provider’s stock valued at $100,493,000 after purchasing an additional 525,220 shares during the last quarter. Institutional investors own 70.24% of the company’s stock.

PEG stock opened at $60.17 on Thursday. The company has a market cap of $30.42 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 4.99 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 1 year low of $53.77 and a 1 year high of $65.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.71 and a quick ratio of 0.53. The stock’s fifty day moving average price is $62.65 and its 200-day moving average price is $61.94.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 3rd. The utilities provider reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. Public Service Enterprise Group had a return on equity of 11.40% and a net margin of 15.49%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.79 EPS. Public Service Enterprise Group’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Wednesday, September 8th were issued a $0.51 dividend. The ex-dividend date was Tuesday, September 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.39%. Public Service Enterprise Group’s dividend payout ratio is currently 59.48%.

Several analysts have commented on PEG shares. Barclays increased their target price on Public Service Enterprise Group from $67.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 6th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $65.00 to $67.00 and gave the company a “market perform” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Vertical Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their target price for the company from $67.00 to $69.00 in a research note on Wednesday, September 29th. Mizuho increased their target price on Public Service Enterprise Group from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Monday. Finally, Morgan Stanley dropped their price target on Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, September 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus target price of $69.00.

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $60.66, for a total transaction of $599,502.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rose M. Chernick sold 400 shares of the firm’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $64.71, for a total value of $25,884.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,863 shares of company stock worth $1,298,333. 0.52% of the stock is owned by insiders.

Public Service Enterprise Group Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

See Also: Operating Income

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

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