Public Service Enterprise Group Incorporated (PEG) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,546 shares of the utilities provider’s stock after acquiring an additional 10,355 shares during the quarter. KBC Group NV’s holdings in Public Service Enterprise Group were worth $2,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Grove Bank & Trust boosted its stake in shares of Public Service Enterprise Group by 209.4% during the 3rd quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 1,539 shares during the period. Hudock Capital Group LLC boosted its stake in shares of Public Service Enterprise Group by 38.8% during the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 735 shares during the period. Vantage Investment Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 35.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 700 shares during the period. Parallel Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 6.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 157 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group by 45.9% during the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after acquiring an additional 202 shares during the period. Institutional investors own 66.77% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) traded down $0.05 on Friday, reaching $51.93. The company had a trading volume of 4,203,957 shares, compared to its average volume of 3,571,114. The company has a market cap of $26,303.90, a P/E ratio of 17.92, a PEG ratio of 6.49 and a beta of 0.41. Public Service Enterprise Group Incorporated has a twelve month low of $41.67 and a twelve month high of $53.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. sell-side analysts predict that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.31%. Public Service Enterprise Group’s payout ratio is 166.99%.

In other news, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $52.90, for a total transaction of $1,102,065.70. Following the completion of the sale, the chairman now directly owns 687,600 shares in the company, valued at approximately $36,374,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Ralph A. Larossa sold 33,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.12, for a total value of $1,653,960.00. Following the sale, the chief operating officer now owns 81,241 shares of the company’s stock, valued at $4,071,798.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,951 shares of company stock valued at $13,045,041. Corporate insiders own 0.61% of the company’s stock.

Several brokerages have recently commented on PEG. Jefferies Group reiterated a “hold” rating and set a $46.50 target price on shares of Public Service Enterprise Group in a research note on Thursday, October 12th. Barclays upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.00 to $51.00 in a research note on Friday, September 22nd. Royal Bank Of Canada reiterated a “hold” rating and set a $47.00 target price on shares of Public Service Enterprise Group in a research note on Tuesday, October 10th. J P Morgan Chase & Co boosted their price target on Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Finally, Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.42.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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