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

DT Investment Partners LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its position in Public Service Enterprise Group by 4.9% in the first quarter. Creative Planning now owns 47,598 shares of the utilities provider’s stock valued at $2,111,000 after buying an additional 2,204 shares during the last quarter. Lenox Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the first quarter valued at approximately $274,000. Raymond James Trust N.A. raised its position in Public Service Enterprise Group by 3.1% in the first quarter. Raymond James Trust N.A. now owns 67,797 shares of the utilities provider’s stock valued at $3,006,000 after buying an additional 2,033 shares during the last quarter. Denali Advisors LLC raised its position in Public Service Enterprise Group by 7.7% in the first quarter. Denali Advisors LLC now owns 161,930 shares of the utilities provider’s stock valued at $7,182,000 after buying an additional 11,591 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Public Service Enterprise Group by 10.4% in the first quarter. CENTRAL TRUST Co now owns 3,323 shares of the utilities provider’s stock valued at $147,000 after buying an additional 314 shares during the last quarter. 66.32% of the stock is owned by institutional investors.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) opened at 46.68 on Friday. The company has a 50 day moving average price of $44.33 and a 200 day moving average price of $44.29. The company has a market capitalization of $23.61 billion, a P/E ratio of 52.45 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $46.95.

Public Service Enterprise Group (NYSE:PEG) last issued 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 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 company earned $0.57 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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Several research firms have commented on PEG. BidaskClub raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $44.50 to $50.00 in a research report on Friday, August 11th. Morgan Stanley lifted their target price 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, August 10th. Citigroup Inc. reiterated a “neutral” rating and set a $49.00 target price (up from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $48.21.

In other news, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the sale, the chairman now owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by company 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.

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

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