Dynamic Technology Lab Private Ltd Acquires Shares of 7,212 Public Service Enterprise Group Inc. (NYSE:PEG)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,212 shares of the utilities provider’s stock, valued at approximately $428,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc boosted its stake in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after buying an additional 545,315 shares during the last quarter. Dupont Capital Management Corp boosted its stake in shares of Public Service Enterprise Group by 29.4% during the 4th quarter. Dupont Capital Management Corp now owns 6,986 shares of the utilities provider’s stock worth $364,000 after buying an additional 1,587 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Public Service Enterprise Group by 5.2% during the 4th quarter. Pinnacle Associates Ltd. now owns 32,579 shares of the utilities provider’s stock worth $1,696,000 after buying an additional 1,599 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Public Service Enterprise Group by 34,775.0% during the 4th quarter. ClariVest Asset Management LLC now owns 9,765 shares of the utilities provider’s stock worth $508,000 after buying an additional 9,737 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Public Service Enterprise Group by 14.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 5,942 shares of the utilities provider’s stock worth $309,000 after buying an additional 735 shares during the last quarter. 68.88% of the stock is owned by institutional investors.

Shares of PEG stock opened at $60.00 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $30.01 billion, a PE ratio of 19.23, a PEG ratio of 3.06 and a beta of 0.41. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. During the same period in the prior year, the firm earned $0.97 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.13%. Public Service Enterprise Group’s payout ratio is 60.26%.

PEG has been the subject of a number of recent research reports. Mizuho increased their price objective on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Wells Fargo & Co increased their price objective on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective for the company. in a research note on Thursday, February 28th. KeyCorp initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 price objective for the company. Finally, JPMorgan Chase & Co. downgraded shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $59.91.

In other news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $58.49, for a total value of $3,065,285.43. Following the sale, the chairman now directly owns 464,006 shares of the company’s stock, valued at approximately $27,139,710.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.04, for a total transaction of $812,641.40. Following the completion of the sale, the executive vice president now directly owns 49,909 shares in the company, valued at $2,996,536.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,330 shares of company stock worth $10,384,926. 0.51% of the stock is owned by insiders.

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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 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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