O Shaughnessy Asset Management LLC Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

O Shaughnessy Asset Management LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 27,277 shares of the utilities provider’s stock after buying an additional 5,246 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. PDS Planning Inc lifted its stake in shares of Public Service Enterprise Group by 4.2% during the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after buying an additional 181 shares during the period. First Trust Direct Indexing L.P. raised its stake in Public Service Enterprise Group by 1.1% during the first quarter. First Trust Direct Indexing L.P. now owns 17,483 shares of the utilities provider’s stock worth $1,167,000 after purchasing an additional 183 shares during the period. United Community Bank raised its stake in Public Service Enterprise Group by 12.9% during the first quarter. United Community Bank now owns 1,616 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 185 shares during the period. Signaturefd LLC raised its stake in Public Service Enterprise Group by 2.3% during the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 187 shares during the period. Finally, Spire Wealth Management raised its stake in Public Service Enterprise Group by 3.6% during the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $75.62 on Thursday. The company has a fifty day simple moving average of $74.28 and a 200 day simple moving average of $67.48. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.98 and a beta of 0.59. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $77.46. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates 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 was down 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

PEG has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Mizuho increased their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Bank of America increased their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Finally, Royal Bank of Canada increased their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.17.

Public Service Enterprise Group 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.