Public Service Enterprise Group Incorporated (NYSE:PEG) Position Held by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan continued to hold its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the utilities provider’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Public Service Enterprise Group were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PEG. BlackRock Inc. raised its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares in the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares in the last quarter. State Street Corp raised its stake in Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after buying an additional 319,134 shares in the last quarter. LSV Asset Management raised its stake in Public Service Enterprise Group by 1.5% in the first quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock valued at $610,644,000 after buying an additional 207,819 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Public Service Enterprise Group by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 7,266,782 shares of the utilities provider’s stock valued at $322,282,000 after buying an additional 534,074 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.82% on Friday, reaching $46.68. The company had a trading volume of 2,028,428 shares. The firm has a market cap of $23.61 billion, a P/E ratio of 52.45 and a beta of 0.38. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $46.95. The company has a 50-day moving average price of $44.33 and a 200-day moving average price of $44.29.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.57 earnings per share. On average, analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share 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 $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.68%. Public Service Enterprise Group’s payout ratio is 193.26%.

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PEG has been the subject of a number of recent research reports. Barclays PLC upped 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 note on Tuesday, April 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. BidaskClub downgraded Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Finally, Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.21.

In other news, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total value of $1,058,382.00. Following the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

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)

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