Public Service Enterprise Group Incorporated (PEG) Position Increased by National Pension Service

National Pension Service boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,233 shares of the utilities provider’s stock after buying an additional 33,015 shares during the period. National Pension Service owned approximately 0.09% of Public Service Enterprise Group worth $19,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Welch & Forbes LLC boosted its stake in shares of Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares during the period. Parallel Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock valued at $368,000 after buying an additional 38 shares during the last quarter. Trustmark National Bank Trust Department boosted its stake in shares of Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock valued at $274,000 after buying an additional 57 shares during the last quarter. Finally, Alpha Cubed Investments LLC boosted its stake in shares of Public Service Enterprise Group by 1.0% in the first quarter. Alpha Cubed Investments LLC now owns 5,955 shares of the utilities provider’s stock valued at $264,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 65.76% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) traded up 0.18% during trading on Tuesday, reaching $45.77. The company’s stock had a trading volume of 1,836,871 shares. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.14. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $44.12. The stock has a market cap of $23.15 billion, a P/E ratio of 51.43 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the prior year, the company earned $0.57 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is 193.26%.

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Several equities analysts recently issued reports on PEG shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Deutsche Bank AG cut their target price on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, July 4th. Finally, BidaskClub lowered Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus price target of $47.30.

In related news, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 23,400 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the completion of the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The disclosure for this sale can be found here. Insiders have sold a total of 77,421 shares of company stock worth $3,389,397 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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