Nvwm LLC Grows Stock Holdings in Public Service Enterprise Group Inc. (NYSE:PEG)

Nvwm LLC raised its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,927 shares of the utilities provider’s stock after buying an additional 836 shares during the period. Nvwm LLC’s holdings in Public Service Enterprise Group were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Public Service Enterprise Group by 8.0% in the 1st quarter. BlackRock Inc. now owns 46,856,049 shares of the utilities provider’s stock worth $2,104,306,000 after purchasing an additional 3,485,288 shares during the period. State Street Corp lifted its position in shares of Public Service Enterprise Group by 4.5% in the 4th quarter. State Street Corp now owns 28,488,727 shares of the utilities provider’s stock worth $1,682,259,000 after purchasing an additional 1,237,939 shares during the period. Geode Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 7,784,095 shares of the utilities provider’s stock worth $458,703,000 after purchasing an additional 281,413 shares during the period. Pictet Asset Management Ltd. lifted its position in shares of Public Service Enterprise Group by 15.3% in the 4th quarter. Pictet Asset Management Ltd. now owns 5,451,172 shares of the utilities provider’s stock worth $321,892,000 after purchasing an additional 724,119 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Public Service Enterprise Group by 20.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,517,679 shares of the utilities provider’s stock worth $202,890,000 after purchasing an additional 753,941 shares during the period. 69.47% of the stock is owned by institutional investors.

In related news, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $52.14, for a total transaction of $32,587.50. Following the sale, the chief financial officer now directly owns 79,278 shares of the company’s stock, valued at $4,133,554.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Several brokerages have recently weighed in on PEG. Royal Bank of Canada reaffirmed a “buy” rating and issued a $54.00 price target on shares of Public Service Enterprise Group in a research report on Thursday, April 30th. Seaport Global Securities assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday. They set a “neutral” rating for the company. Wells Fargo & Co reduced their price objective on shares of Public Service Enterprise Group from $67.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Argus reiterated a “buy” rating and set a $75.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, April 16th. Finally, UBS Group reduced their price objective on shares of Public Service Enterprise Group from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.88.

Shares of NYSE:PEG traded down $0.15 during midday trading on Friday, reaching $47.92. The company’s stock had a trading volume of 43,393 shares, compared to its average volume of 2,807,616. The firm has a market capitalization of $24.65 billion, a PE ratio of 16.99, a P/E/G ratio of 4.00 and a beta of 0.59. Public Service Enterprise Group Inc. has a twelve month low of $34.75 and a twelve month high of $63.88. The stock has a fifty day moving average of $49.39 and a 200 day moving average of $54.83. The company has a quick ratio of 0.57, a current ratio of 0.72 and a debt-to-equity ratio of 0.94.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.25 billion. Public Service Enterprise Group had a net margin of 14.59% and a return on equity of 10.92%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Inc. will post 3.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Monday, June 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.76%.

About Public Service Enterprise Group

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 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 to customers.

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

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