Gladstone Institutional Advisory LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 16.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,550 shares of the utilities provider’s stock after selling 700 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Public Service Enterprise Group were worth $218,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schechter Investment Advisors LLC increased its position in Public Service Enterprise Group by 1.0% in the 3rd quarter. Schechter Investment Advisors LLC now owns 18,359 shares of the utilities provider’s stock worth $1,032,000 after buying an additional 188 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its position in Public Service Enterprise Group by 3.0% in the 3rd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,653 shares of the utilities provider’s stock worth $374,000 after buying an additional 193 shares during the period. First Personal Financial Services increased its position in Public Service Enterprise Group by 19.5% in the 4th quarter. First Personal Financial Services now owns 1,226 shares of the utilities provider’s stock worth $75,000 after buying an additional 200 shares during the period. Grant GrossMendelsohn LLC increased its position in Public Service Enterprise Group by 4.6% in the 3rd quarter. Grant GrossMendelsohn LLC now owns 4,551 shares of the utilities provider’s stock worth $255,000 after buying an additional 202 shares during the period. Finally, UMB Bank n.a. increased its position in Public Service Enterprise Group by 2.2% in the 4th quarter. UMB Bank n.a. now owns 9,428 shares of the utilities provider’s stock worth $578,000 after buying an additional 202 shares during the period. 70.67% of the stock is currently owned by institutional investors and hedge funds.
Public Service Enterprise Group Stock Performance
Shares of NYSE:PEG opened at $64.09 on Friday. The business’s fifty day moving average price is $60.80 and its two-hundred day moving average price is $59.75. Public Service Enterprise Group Incorporated has a fifty-two week low of $52.51 and a fifty-two week high of $74.76. The stock has a market capitalization of $31.97 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 4.29 and a beta of 0.56. 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 Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, June 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 110.68%.
Analysts Set New Price Targets
Several brokerages have commented on PEG. StockNews.com began coverage on Public Service Enterprise Group in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 14th. TheStreet upgraded Public Service Enterprise Group from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. LADENBURG THALM/SH SH assumed coverage on Public Service Enterprise Group in a research report on Monday, April 3rd. They set a “neutral” rating and a $60.50 price objective on the stock. Finally, Guggenheim lowered their price objective on Public Service Enterprise Group from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, February 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.15.
Insiders Place Their Bets
In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the transaction, the chief operating officer now 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 the SEC website. Insiders own 0.57% of the company’s stock.
About Public Service Enterprise Group
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.
Read More
- Get a free copy of the StockNews.com research report on Public Service Enterprise Group (PEG)
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