Pensionfund DSM Netherlands Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)


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Pensionfund DSM Netherlands grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,000 shares of the utilities provider’s stock after buying an additional 7,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Public Service Enterprise Group were worth $3,131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEG. SOA Wealth Advisors LLC. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $25,000. Dimension Capital Management LLC purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth $26,000. Valley Brook Capital Group purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $29,000. Klaas Financial Asset Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $30,000. Finally, Robbins Farley LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $36,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Public Service Enterprise Group stock opened at $61.23 on Thursday. The stock has a 50-day moving average of $57.78 and a two-hundred day moving average of $57.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.59 and a current ratio of 0.76. Public Service Enterprise Group Incorporated has a one year low of $43.87 and a one year high of $62.15. The stock has a market cap of $30.93 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 6.10 and a beta of 0.49.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 25th. The utilities provider reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. Public Service Enterprise Group had a return on equity of 11.30% and a net margin of 19.74%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Tuesday, March 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, March 8th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.33%. Public Service Enterprise Group’s dividend payout ratio is currently 62.20%.

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, March 25th. KeyCorp decreased their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, January 12th. The Goldman Sachs Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Thursday, January 14th. Finally, Mizuho decreased their price objective on Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, January 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $64.10.

Public Service Enterprise Group 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 PSEG 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.

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

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