MetLife Investment Management LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE: PEG – Get Rating) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC) . The fund owned 111,721 shares of the utilities provider’s stock after selling 12,502 shares during the quarter. MetLife Investment Management LLC’s holdings in Public Service Enterprise Group were worth $ 7,455,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PEG. Ferguson Wellman Capital Management Inc. increased its holdings in Public Service Enterprise Group by 1.9% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 8,192 shares of the utilities provider’s stock valued at $ 547,000 after buying an additional 150 shares during the period. Checchi Capital Advisers LLC increased its holdings in Public Service Enterprise Group by 2.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,168 shares of the utilities provider’s stock valued at $ 412,000 after buying an additional 150 shares during the period. Intrust Bank NA increased its holdings in Public Service Enterprise Group by 4.6% in the 4th quarter. Intrust Bank NA now owns 3,602 shares of the utilities provider’s stock valued at $ 240,000 after buying an additional 158 shares during the period. Exchange Traded Concepts LLC increased its holdings in Public Service Enterprise Group by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,334 shares of the utilities provider’s stock valued at $ 623,000 after buying an additional 166 shares during the period. Finally, Capital Asset Advisory Services LLC increased its holdings in Public Service Enterprise Group by 2.5% in the 4th quarter. Capital Asset Advisory Services LLC now owns 6,757 shares of the utilities provider’s stock valued at $ 451,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 70.82% of the company stock.
Shares of NYSE: PEG opened at $ 65.47 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $ 58.96 and a 12 month high of $ 75.61. The company 50-day moving average price is $ 69.79 and its two-hundred day moving average price is $ 67.17. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market cap of $ 32.69 billion, a P / E ratio of -25.47, a P / E / G ratio of 3.25 and a beta of 0.55.
Public Service Enterprise Group (NYSE: PEG – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $ 1.33 EPS for the quarter, topping analysts’ consensus estimates of $ 1.11 by $ 0.22. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The firm had revenue of $ 2.31 billion for the quarter, compared to analyst estimates of $ 2.70 billion. During the same quarter in the prior year, the firm earned $ 1.28 EPS. The company revenue was down 19.9% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th will be issued a dividend of $ 0.54 per share. This represents a $ 2.16 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, June 8th. Public Service Enterprise Group’s dividend payout ratio is currently -84.05%.
In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $ 68.95, for a total transaction of $ 681,432.85. Following the sale, the chief executive officer now owns 464,270 shares of the company stock, valued at approximately $ 32,011,416.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 30,249 shares of company stock worth $ 2,092,304. Insiders own 0.55% of the company stock.
Several brokerages have issued reports on PEG. Citigroup began coverage on shares of Public Service Enterprise Group in a report on Tuesday, March 22nd. They issued a “neutral” rating and a $ 69.00 price target on the stock. TheStreet raised shares of Public Service Enterprise Group from a “c +” rating to a “b” rating in a report on Monday, April 18th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $ 83.00 to $ 82.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Credit Suisse Group assumed coverage on shares of Public Service Enterprise Group in a report on Monday, April 25th. They issued a “neutral” rating and a $ 76.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $ 82.00 to $ 87.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 73.09.
Public Service Enterprise Group Profile: (Get Rating)
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE & G and PSEG Power. The PSE & G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
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