Mackenzie Financial Corp Acquires 3,902 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mackenzie Financial Corp grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,593 shares of the utilities provider’s stock after buying an additional 3,902 shares during the quarter. Mackenzie Financial Corp’s holdings in Public Service Enterprise Group were worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Summit Financial LLC lifted its holdings in shares of Public Service Enterprise Group by 11.7% during the 4th quarter. Summit Financial LLC now owns 6,033 shares of the utilities provider’s stock valued at $510,000 after buying an additional 630 shares during the period. OneAscent Financial Services LLC lifted its holdings in shares of Public Service Enterprise Group by 11.4% during the 4th quarter. OneAscent Financial Services LLC now owns 3,657 shares of the utilities provider’s stock valued at $309,000 after buying an additional 374 shares during the period. Nicolet Advisory Services LLC lifted its holdings in shares of Public Service Enterprise Group by 8.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 2,381 shares of the utilities provider’s stock valued at $201,000 after buying an additional 179 shares during the period. World Investment Advisors lifted its holdings in shares of Public Service Enterprise Group by 3.5% during the 4th quarter. World Investment Advisors now owns 51,088 shares of the utilities provider’s stock valued at $4,316,000 after buying an additional 1,732 shares during the period. Finally, Arete Wealth Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 9.8% during the 4th quarter. Arete Wealth Advisors LLC now owns 7,518 shares of the utilities provider’s stock valued at $634,000 after buying an additional 672 shares during the period. 73.34% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.9%

Shares of PEG stock opened at $88.97 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market capitalization of $44.40 billion, a PE ratio of 24.31, a PEG ratio of 3.21 and a beta of 0.48. The stock has a fifty day simple moving average of $82.79 and a two-hundred day simple moving average of $82.26.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Public Service Enterprise Group’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. UBS Group upped their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays reduced their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Evercore ISI reduced their price objective on 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. Finally, Guggenheim reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and an average price target of $90.50.

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.