BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $8.37 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,387 shares of the utilities provider’s stock after buying an additional 10,118 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Public Service Enterprise Group were worth $8,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEG. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $31,000. Bruce G. Allen Investments LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $36,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $36,000. Salomon & Ludwin LLC boosted its stake in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $0.34 on Friday, hitting $74.27. The company had a trading volume of 180,522 shares, compared to its average volume of 2,816,425. The firm has a 50 day moving average of $74.15 and a two-hundred day moving average of $67.05. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.12 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $77.46. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Activity 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 that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PEG shares. Bank of America lifted their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday. Mizuho increased their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Finally, Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Public Service Enterprise Group 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.