Atlas Capital Advisors LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2,524.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,983 shares of the utilities provider’s stock after buying an additional 5,755 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Public Service Enterprise Group were worth $360,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in Public Service Enterprise Group by 1.1% during the first quarter. BlackRock Inc. now owns 51,569,927 shares of the utilities provider’s stock valued at $3,105,026,000 after buying an additional 554,884 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Public Service Enterprise Group by 188.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,136,648 shares of the utilities provider’s stock worth $1,523,767,000 after purchasing an additional 17,069,173 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Public Service Enterprise Group by 10.8% in the 4th quarter. Nordea Investment Management AB now owns 7,349,367 shares of the utilities provider’s stock worth $428,468,000 after purchasing an additional 717,747 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Public Service Enterprise Group by 55.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,430,521 shares of the utilities provider’s stock worth $200,000,000 after purchasing an additional 1,227,917 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Public Service Enterprise Group by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 2,581,300 shares of the utilities provider’s stock worth $150,490,000 after purchasing an additional 285,613 shares during the last quarter. 66.84% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Seaport Global Securities raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. KeyCorp lifted their price objective on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, April 20th. Mizuho upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $67.50 in a report on Wednesday, May 5th. Finally, Barclays lifted their price objective on Public Service Enterprise Group from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.55.
Public Service Enterprise Group stock opened at $62.30 on Thursday. The business has a 50-day simple moving average of $62.55 and a two-hundred day simple moving average of $59.06. The company has a market cap of $31.49 billion, a P/E ratio of 14.98, a P/E/G ratio of 4.98 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 52-week low of $46.70 and a 52-week high of $64.30. The company has a quick ratio of 0.63, a current ratio of 0.79 and a debt-to-equity ratio of 0.94.
Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.16. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.25 billion. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 8th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, June 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.27%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.48%.
In related news, COO Ralph A. Larossa sold 4,890 shares of the business’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $63.87, for a total transaction of $312,324.30. Over the last quarter, insiders have sold 10,574 shares of company stock valued at $669,648. 0.52% of the stock is currently owned by corporate insiders.
Public Service Enterprise Group Profile
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.
Further Reading: What does an equal weight rating mean?
Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG).
