DT Investment Partners LLC Boosts Stake in Public Service Enterprise Group Incorporated (PEG)

DT Investment Partners LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,415 shares of the utilities provider’s stock after buying an additional 4,769 shares during the period. DT Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $1,179,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. increased its stake in Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after buying an additional 381 shares during the last quarter. Parallel Advisors LLC increased its stake in Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after buying an additional 20 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock worth $119,000 after buying an additional 99 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock worth $134,000 after buying an additional 543 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after buying an additional 2,484 shares during the last quarter. Institutional investors own 65.76% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) traded down 0.18% during mid-day trading on Friday, hitting $45.53. 2,529,073 shares of the stock traded hands. The stock has a 50-day moving average of $43.86 and a 200-day moving average of $44.16. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.14. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 51.16 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm earned $0.57 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

ILLEGAL ACTIVITY NOTICE: “DT Investment Partners LLC Boosts Stake in Public Service Enterprise Group Incorporated (PEG)” was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/08/11/public-service-enterprise-group-incorporated-peg-position-boosted-by-dt-investment-partners-llc-updated.html.

PEG has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.50 to $50.00 in a research report on Friday. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Barclays PLC lifted their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $48.21.

In related news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the transaction, the chairman now directly owns 748,474 shares in the company, valued at approximately $33,853,479.02. The disclosure for this sale can be found here. Insiders have sold a total of 77,421 shares of company stock worth $3,389,397 in the last three months. 0.61% of the stock is owned by insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

What are top analysts saying about Public Service Enterprise Group Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Public Service Enterprise Group Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit