Public Service Enterprise Group Incorporated (PEG) Shares Bought by Denver Investment Advisors LLC

Denver Investment Advisors LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,774 shares of the utilities provider’s stock after buying an additional 118 shares during the period. Denver Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,130,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised 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 period. Parallel Advisors LLC raised 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 period. Kistler Tiffany Companies LLC raised 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 period. YorkBridge Wealth Partners LLC raised 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 period. Finally, Gradient Investments LLC raised 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 period. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Incorporated (NYSE PEG) opened at 46.64 on Thursday. The company’s 50 day moving average price is $44.13 and its 200 day moving average price is $44.25. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $46.74. The company has a market cap of $23.59 billion, a P/E ratio of 52.40 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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 return on equity of 11.46% and a net margin of 4.88%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 3.69%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is presently 193.26%.

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A number of research firms have issued reports on PEG. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Morgan Stanley raised their target price on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Mizuho began coverage on Public Service Enterprise Group in a report on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price objective on the stock. Wolfe Research raised Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $48.21.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company Profile

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.

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

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