CoreCap Advisors LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 812 shares of the utilities provider’s stock, valued at approximately $50,000.
Other large investors also recently added to or reduced their stakes in the company. Concord Wealth Partners bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. Boyd Watterson Asset Management LLC OH bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $27,000. Romano Brothers AND Company bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $30,000. New Hampshire Trust bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $37,000. Finally, CI Investments Inc. lifted its stake in 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 during the last quarter. Institutional investors own 70.67% of the company’s stock.
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 company’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 completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Public Service Enterprise Group Trading Up 0.5 %
PEG opened at $59.75 on Thursday. The business has a 50 day simple moving average of $62.27 and a two-hundred day simple moving average of $61.00. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 3.99 and a beta of 0.56. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.79 and a quick ratio of 0.66. Public Service Enterprise Group Incorporated has a one year low of $52.51 and a one year high of $69.94.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $2.89 billion. Public Service Enterprise Group had a return on equity of 12.78% and a net margin of 20.64%. Public Service Enterprise Group’s quarterly revenue was up 62.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.44 EPS for the current year.
Public Service Enterprise Group Announces Dividend
The firm 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, June 8th. Public Service Enterprise Group’s payout ratio is 49.14%.
Public Service Enterprise Group 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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