Optimal Asset Management Inc. boosted its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 152.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,433 shares of the utilities provider’s stock after acquiring an additional 25,032 shares during the quarter. Optimal Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $30,000. Elmwood Wealth Management Inc. acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $25,000. HBC Financial Services PLLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $31,000. PrairieView Partners LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $27,000. Finally, Balentine LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $28,000. 67.83% of the stock is owned by institutional investors.

In other news, VP Rose M. Chernick sold 600 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $33,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $52.14, for a total value of $32,587.50. Following the sale, the chief financial officer now owns 79,278 shares in the company, valued at approximately $4,133,554.92. The disclosure for this sale can be found here. Insiders have sold 7,607 shares of company stock valued at $407,773 in the last three months. 0.48% of the stock is currently owned by company insiders.

Public Service Enterprise Group stock traded down $0.90 during mid-day trading on Friday, hitting $47.07. 38,400 shares of the company were exchanged, compared to its average volume of 2,638,349. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.72 and a quick ratio of 0.57. The business’s 50 day simple moving average is $49.64 and its two-hundred day simple moving average is $53.06. The company has a market capitalization of $24.35 billion, a P/E ratio of 17.04, a PEG ratio of 4.21 and a beta of 0.58. Public Service Enterprise Group Inc. has a 12-month low of $34.75 and a 12-month high of $63.88.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $3.25 billion. Public Service Enterprise Group had a return on equity of 10.92% and a net margin of 14.59%. Public Service Enterprise Group’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. Equities research analysts predict that Public Service Enterprise Group Inc. will post 3.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Monday, June 8th. Public Service Enterprise Group’s payout ratio is 59.76%.

A number of analysts have weighed in on PEG shares. Mizuho cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $54.00 to $53.00 in a research report on Monday, April 20th. They noted that the move was a valuation call. UBS Group cut their target price on Public Service Enterprise Group from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Monday. Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research note on Tuesday, March 31st. Argus reissued a “buy” rating and set a $75.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, April 16th. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and an average price target of $60.92.

About Public Service Enterprise Group

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.

Further Reading: Limitations of the P/E Growth ratio

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

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