67,000 Shares in Public Service Enterprise Group Incorporated (PEG) Purchased by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 67,000 shares of the utilities provider’s stock, valued at approximately $3,451,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. BT Investment Management Ltd purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $84,819,000. Balyasny Asset Management LLC boosted its stake in Public Service Enterprise Group by 413.1% in the second quarter. Balyasny Asset Management LLC now owns 1,986,751 shares of the utilities provider’s stock valued at $85,450,000 after acquiring an additional 1,599,583 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Public Service Enterprise Group by 239.4% in the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock valued at $101,190,000 after acquiring an additional 1,543,256 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Public Service Enterprise Group by 213.4% in the second quarter. Renaissance Technologies LLC now owns 1,492,600 shares of the utilities provider’s stock valued at $64,197,000 after buying an additional 1,016,300 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Public Service Enterprise Group by 76.7% in the second quarter. Parametric Portfolio Associates LLC now owns 2,025,736 shares of the utilities provider’s stock valued at $87,127,000 after buying an additional 879,160 shares during the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

In other news, Chairman Ralph Izzo sold 79,920 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $51.50, for a total transaction of $112,527.50. The disclosure for this sale can be found here. In the last three months, insiders sold 243,118 shares of company stock worth $12,076,306. Insiders own 0.61% of the company’s stock.

A number of equities research analysts have recently commented on PEG shares. Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, September 14th. Royal Bank of Canada reissued a “hold” rating and set a $47.00 price target on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Finally, Argus increased their price target on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.81.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) traded up $0.16 on Tuesday, hitting $51.50. 2,313,200 shares of the company’s stock were exchanged, compared to its average volume of 2,841,317. The firm has a market cap of $26,061.00, a price-to-earnings ratio of 50.00, a PEG ratio of 6.41 and a beta of 0.41. Public Service Enterprise Group Incorporated has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 2.93 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were issued a $0.43 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 166.99%.

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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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