Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,774 shares of the utilities provider’s stock after acquiring an additional 3,504 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Public Service Enterprise Group were worth $1,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its holdings in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the last quarter. Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $2,565,000. Avanza Fonder AB acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $4,736,000. abrdn plc lifted its holdings in Public Service Enterprise Group by 0.6% in the 4th quarter. abrdn plc now owns 1,803,046 shares of the utilities provider’s stock valued at $151,546,000 after acquiring an additional 10,860 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in Public Service Enterprise Group by 53.7% in the 4th quarter. HB Wealth Management LLC now owns 12,235 shares of the utilities provider’s stock valued at $1,034,000 after acquiring an additional 4,276 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Guggenheim reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. StockNews.com lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $88.81.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $78.45 on Friday. The company has a market capitalization of $39.15 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business’s 50-day moving average is $80.86 and its 200-day moving average is $84.21.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

About Public Service Enterprise Group

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.