Cwm LLC Has $522,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Posted by on Apr 23rd, 2023

Cwm LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,512 shares of the utilities provider’s stock after purchasing an additional 892 shares during the quarter. Cwm LLC’s holdings in Public Service Enterprise Group were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PEG. Destiny Wealth Partners LLC boosted its holdings in Public Service Enterprise Group by 304.5% during the third quarter. Destiny Wealth Partners LLC now owns 453 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 341 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. Boyd Watterson Asset Management LLC OH bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $27,000. Romano Brothers AND Company bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $30,000. Finally, CI Investments Inc. lifted its position in shares of Public Service Enterprise Group by 990.2% during the third quarter. CI Investments Inc. now owns 665 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 604 shares in the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Eric Carr sold 7,105 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $57.63, for a total transaction of $409,461.15. Following the transaction, the chief operating officer now owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PEG shares. Morgan Stanley upped their price objective on Public Service Enterprise Group from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 14th. Mizuho dropped their price target on shares of Public Service Enterprise Group from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 13th. LADENBURG THALM/SH SH assumed coverage on shares of Public Service Enterprise Group in a research note on Monday, April 3rd. They issued a “neutral” rating and a $60.50 price objective on the stock. Finally, TheStreet upgraded Public Service Enterprise Group from a “c” rating to a “b” rating in a research report on Tuesday, February 21st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.15.

Public Service Enterprise Group Stock Up 0.2 %

NYSE:PEG opened at $64.09 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $52.51 and a 1 year high of $74.76. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.20. The stock has a market cap of $31.97 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 4.29 and a beta of 0.56. The stock has a 50-day moving average price of $60.87 and a two-hundred day moving average price of $59.80.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its earnings results on Tuesday, February 21st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. Public Service Enterprise Group had a return on equity of 12.88% and a net margin of 10.52%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.44 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.56%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 110.68%.

Public Service Enterprise Group Profile

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

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