First Republic Investment Management Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 43.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,393 shares of the utilities provider’s stock after acquiring an additional 9,775 shares during the period. First Republic Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of PEG. D.A. Davidson & CO. raised its holdings in shares of Public Service Enterprise Group by 7.5% during the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 256 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Public Service Enterprise Group by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock worth $92,310,000 after acquiring an additional 83,174 shares in the last quarter. Prudential PLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth $798,000. Cetera Investment Advisers raised its holdings in shares of Public Service Enterprise Group by 1.3% during the first quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock worth $1,793,000 after acquiring an additional 332 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth $214,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $59.00 and set a “market perform” rating on the stock in a report on Monday, November 14th. Guggenheim cut their target price on Public Service Enterprise Group to $67.00 in a report on Friday, November 4th. Wolfe Research lowered Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating in a report on Thursday, November 17th. The Goldman Sachs Group raised their target price on Public Service Enterprise Group from $75.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, October 4th. Finally, StockNews.com lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.20.
Public Service Enterprise Group Trading Up 1.4 %
Public Service Enterprise Group stock opened at $61.93 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.46 and a current ratio of 0.60. The business’s 50-day simple moving average is $60.94 and its 200-day simple moving average is $61.28. The firm has a market capitalization of $30.90 billion, a PE ratio of 45.54, a PEG ratio of 7.49 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 52 week low of $52.51 and a 52 week high of $75.61.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Public Service Enterprise Group had a return on equity of 12.96% and a net margin of 7.08%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.46 earnings per share for the current year.
Public Service Enterprise Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, December 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 158.82%.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Public Service Enterprise Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Public Service Enterprise Group wasn’t on the list.
While Public Service Enterprise Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
