CX Institutional Has $32,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

CX Institutional lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 145.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 589 shares of the utilities provider’s stock after purchasing an additional 349 shares during the period. CX Institutional’s holdings in Public Service Enterprise Group were worth $32,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PEG. Nordea Investment Management AB lifted its holdings in Public Service Enterprise Group by 107.6% in the second quarter. Nordea Investment Management AB now owns 13,378,272 shares of the utilities provider’s stock valued at $658,210,000 after buying an additional 6,933,714 shares during the period. BlackRock Inc. lifted its holdings in Public Service Enterprise Group by 6.7% in the second quarter. BlackRock Inc. now owns 49,977,929 shares of the utilities provider’s stock valued at $2,456,915,000 after buying an additional 3,121,880 shares during the period. LSV Asset Management lifted its holdings in Public Service Enterprise Group by 299.8% in the second quarter. LSV Asset Management now owns 3,300,487 shares of the utilities provider’s stock valued at $162,251,000 after buying an additional 2,474,943 shares during the period. Federated Hermes Inc. lifted its holdings in Public Service Enterprise Group by 1,965.2% in the second quarter. Federated Hermes Inc. now owns 2,280,133 shares of the utilities provider’s stock valued at $112,091,000 after buying an additional 2,169,724 shares during the period. Finally, Capital International Investors lifted its holdings in Public Service Enterprise Group by 55.1% in the first quarter. Capital International Investors now owns 6,103,693 shares of the utilities provider’s stock valued at $274,117,000 after buying an additional 2,169,391 shares during the period. Institutional investors own 68.23% of the company’s stock.

NYSE:PEG opened at $59.50 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.65 and a quick ratio of 0.51. The firm has a 50-day moving average of $53.92 and a 200-day moving average of $51.72. The company has a market cap of $30.09 billion, a PE ratio of 17.40, a PEG ratio of 6.41 and a beta of 0.54. Public Service Enterprise Group Incorporated has a one year low of $34.75 and a one year high of $63.68.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. Public Service Enterprise Group had a net margin of 18.09% and a return on equity of 11.52%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Tuesday, September 8th. Public Service Enterprise Group’s payout ratio is 59.76%.

PEG has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, July 13th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, September 28th. BofA Securities upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Tuesday, September 22nd. Finally, Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $58.00 to $57.00 in a report on Tuesday, September 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $62.62.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,919 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $54.02, for a total value of $103,664.38. Following the transaction, the chief operating officer now directly owns 86,847 shares in the company, valued at $4,691,474.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 6,157 shares of company stock valued at $336,782 over the last ninety days. 0.48% of the stock is currently owned by insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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