National Bank of Canada FI grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 301.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,488 shares of the utilities provider’s stock after buying an additional 67,920 shares during the quarter. National Bank of Canada FI’s holdings in Public Service Enterprise Group were worth $5,546,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PEG. BlackRock Inc. boosted its holdings in shares of Public Service Enterprise Group by 5.0% in the third quarter. BlackRock Inc. now owns 54,426,510 shares of the utilities provider’s stock valued at $3,060,399,000 after buying an additional 2,576,034 shares during the period. Legal & General Group Plc boosted its holdings in Public Service Enterprise Group by 24.4% during the second quarter. Legal & General Group Plc now owns 6,965,031 shares of the utilities provider’s stock worth $440,749,000 after purchasing an additional 1,363,974 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Public Service Enterprise Group by 48.8% during the second quarter. Goldman Sachs Group Inc. now owns 4,089,778 shares of the utilities provider’s stock worth $258,802,000 after purchasing an additional 1,341,818 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Public Service Enterprise Group by 196.2% during the first quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock worth $132,451,000 after purchasing an additional 1,253,283 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 2.7% during the first quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock worth $3,055,836,000 after purchasing an additional 1,159,331 shares during the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.
Insider Buying and Selling
In related news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $57.63, for a total transaction of $409,461.15. Following the transaction, the chief operating officer now directly owns 6,482 shares of the company’s stock, valued at $373,557.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by insiders.
Analysts Set New Price Targets
Public Service Enterprise Group Price Performance
Shares of PEG opened at $63.31 on Friday. The firm has a market capitalization of $31.58 billion, a PE ratio of 30.73, a PEG ratio of 4.13 and a beta of 0.56. The company’s 50-day moving average is $60.28 and its 200-day moving average is $59.62. Public Service Enterprise Group Incorporated has a fifty-two week low of $52.51 and a fifty-two week high of $75.61. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.64 and a quick ratio of 0.50.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.54 billion. Public Service Enterprise Group had a net margin of 10.52% and a return on equity of 12.88%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.43 EPS for the current year.
Public Service Enterprise Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were given a $0.57 dividend. The ex-dividend date was Thursday, March 9th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.54. This represents a $2.28 annualized dividend and a dividend yield of 3.60%. Public Service Enterprise Group’s dividend payout ratio is presently 110.68%.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.
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