Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.6% in the 2nd quarter, Holdings Channel reports. The firm owned 59,272 shares of the utilities provider’s stock after buying an additional 949 shares during the period. Westpac Banking Corp’s holdings in Public Service Enterprise Group were worth $3,541,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Intersect Capital LLC grew its holdings in shares of Public Service Enterprise Group by 2.4% in the 2nd quarter. Intersect Capital LLC now owns 6,936 shares of the utilities provider’s stock worth $414,000 after acquiring an additional 162 shares during the period. Boston Private Wealth LLC grew its holdings in Public Service Enterprise Group by 1.6% during the 1st quarter. Boston Private Wealth LLC now owns 10,346 shares of the utilities provider’s stock valued at $623,000 after buying an additional 163 shares during the last quarter. South Dakota Investment Council grew its holdings in Public Service Enterprise Group by 0.9% during the 1st quarter. South Dakota Investment Council now owns 20,730 shares of the utilities provider’s stock valued at $1,248,000 after buying an additional 181 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Public Service Enterprise Group by 10.9% during the 1st quarter. Benjamin Edwards Inc. now owns 1,855 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 183 shares during the period. Finally, Clark Capital Management Group Inc. lifted its stake in shares of Public Service Enterprise Group by 4.8% during the 1st quarter. Clark Capital Management Group Inc. now owns 3,983 shares of the utilities provider’s stock worth $240,000 after purchasing an additional 183 shares during the period. 70.24% of the stock is owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group stock opened at $61.02 on Thursday. The business has a 50-day moving average of $63.04 and a 200-day moving average of $61.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.71 and a quick ratio of 0.53. The company has a market capitalization of $30.85 billion, a PE ratio of 20.90, a P/E/G ratio of 4.99 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 1-year low of $51.66 and a 1-year high of $65.33.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $2.31 billion. Public Service Enterprise Group had a return on equity of 11.40% and a net margin of 15.49%. The company’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 8th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, September 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.34%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.48%.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 4,890 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $64.60, for a total value of $315,894.00. Following the completion of the transaction, the chief operating officer now directly owns 75,533 shares in the company, valued at $4,879,431.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rose M. Chernick sold 400 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, September 17th. The shares were sold at an average price of $62.95, for a total value of $25,180.00. The disclosure for this sale can be found here. Insiders sold 10,980 shares of company stock valued at $698,831 over the last quarter. Insiders own 0.52% of the company’s stock.

PEG has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, September 17th. KeyCorp increased their target price on Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, August 13th. Finally, Wells Fargo & Company increased their target price on Public Service Enterprise Group from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $68.69.

Public Service Enterprise Group Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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

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