Newbridge Financial Services Group Inc. Has $64,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Newbridge Financial Services Group Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 99.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,042 shares of the utilities provider’s stock after purchasing an additional 520 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Public Service Enterprise Group were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after purchasing an additional 726,613 shares in the last quarter. Legal & General Group Plc lifted its position in Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after purchasing an additional 87,974 shares during the period. Northern Trust Corp grew its stake in Public Service Enterprise Group by 2.8% during the third 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 in the last quarter. Finally, Morgan Stanley raised its position in shares of 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 buying an additional 221,071 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

NYSE:PEG traded down $0.64 during mid-day trading on Tuesday, hitting $72.43. 325,600 shares of the stock traded hands, compared to its average volume of 2,791,949. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The company has a market cap of $36.08 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59. The business’s 50-day moving average price is $71.29 and its 200 day moving average price is $65.14.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank decreased 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 report on Monday, April 22nd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada increased their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Check Out Our Latest Stock Analysis on Public Service Enterprise Group

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 3,148 shares of company stock valued at $212,750. Corporate insiders own 0.18% of the company’s stock.

About Public Service Enterprise Group

(Free Report)

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.

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

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