Metis Global Partners LLC Buys 1,796 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Metis Global Partners LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,056 shares of the utilities provider’s stock after purchasing an additional 1,796 shares during the period. Metis Global Partners LLC’s holdings in Public Service Enterprise Group were worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after buying an additional 7,103,657 shares during the period. JPMorgan Chase & Co. lifted its holdings in Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the last quarter. Legal & General Group Plc boosted its stake in Public Service Enterprise Group by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after purchasing an additional 87,974 shares during the period. Northern Trust Corp increased its position in Public Service Enterprise Group by 2.8% during the 3rd quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock worth $350,395,000 after buying an additional 170,586 shares during the period. Finally, Morgan Stanley boosted its holdings in Public Service Enterprise Group by 4.1% in the 3rd quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after purchasing an additional 221,071 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $0.89 during mid-day trading on Monday, hitting $71.34. 2,064,129 shares of the company traded hands, compared to its average volume of 2,884,930. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $71.41. The stock has a fifty day moving average price of $65.56 and a 200-day moving average price of $62.63.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent research reports. Barclays raised their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Scotiabank reduced their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. Insiders have sold 9,322 shares of company stock worth $607,376 over the last 90 days. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.