Northpointe Capital LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,708 shares of the utilities provider’s stock after buying an additional 22,839 shares during the period. Northpointe Capital LLC’s holdings in Public Service Enterprise Group were worth $4,805,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares in the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares in the last quarter. State Street Corp raised its stake in Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after buying an additional 319,134 shares in the last quarter. LSV Asset Management raised its stake in Public Service Enterprise Group by 1.5% in the first quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock valued at $610,644,000 after buying an additional 207,819 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Public Service Enterprise Group by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 7,266,782 shares of the utilities provider’s stock valued at $322,282,000 after buying an additional 534,074 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.29 on Wednesday. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 52.01 and a beta of 0.38. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $46.35. The stock’s 50 day moving average price is $44.04 and its 200-day moving average price is $44.23.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the business earned $0.57 earnings per share. Equities research analysts predict that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.43 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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Several equities research analysts have commented on PEG shares. BidaskClub upgraded Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, July 4th. Barclays PLC upped their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.21.

In related news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the sale, the chairman now directly owns 748,121 shares in the company, valued at $32,042,022.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,421 shares of company stock worth $3,389,397. Company insiders own 0.61% of the company’s stock.

About Public Service Enterprise Group

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.

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

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