11,337 Shares in Public Service Enterprise Group Inc. (PEG) Purchased by Chartist Inc. CA

Chartist Inc. CA acquired a new position in Public Service Enterprise Group Inc. (NYSE:PEG) in the first quarter, HoldingsChannel.com reports. The fund acquired 11,337 shares of the utilities provider’s stock, valued at approximately $674,000. Public Service Enterprise Group accounts for approximately 0.6% of Chartist Inc. CA’s holdings, making the stock its 13th largest holding.

Several other institutional investors have also bought and sold shares of PEG. Vanguard Group Inc boosted its position in shares of Public Service Enterprise Group by 1.4% in the third quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock valued at $2,126,450,000 after acquiring an additional 545,315 shares during the period. Strs Ohio raised its stake in Public Service Enterprise Group by 10.0% in the fourth quarter. Strs Ohio now owns 64,191 shares of the utilities provider’s stock valued at $3,341,000 after purchasing an additional 5,861 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in Public Service Enterprise Group by 5,542.4% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 9,592 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 9,422 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Public Service Enterprise Group by 10.6% during the fourth quarter. IFM Investors Pty Ltd now owns 29,082 shares of the utilities provider’s stock worth $1,514,000 after acquiring an additional 2,788 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in Public Service Enterprise Group by 2.4% during the fourth quarter. Sumitomo Life Insurance Co. now owns 51,764 shares of the utilities provider’s stock worth $2,694,000 after acquiring an additional 1,199 shares in the last quarter. 67.53% of the stock is owned by hedge funds and other institutional investors.

PEG has been the subject of several recent research reports. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. cut Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. Deutsche Bank cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target on the stock. in a report on Thursday, February 28th. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Wells Fargo & Co upped their target price on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $59.73.

In related news, EVP Tamara Louise Linde sold 13,535 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the completion of the transaction, the executive vice president now owns 49,909 shares in the company, valued at approximately $2,996,536.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $58.49, for a total value of $3,065,285.43. Following the completion of the transaction, the chairman now owns 464,006 shares of the company’s stock, valued at approximately $27,139,710.94. The disclosure for this sale can be found here. Insiders sold a total of 180,679 shares of company stock valued at $10,657,989 in the last three months. Insiders own 0.51% of the company’s stock.

Shares of NYSE PEG opened at $61.02 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Public Service Enterprise Group Inc. has a fifty-two week low of $49.22 and a fifty-two week high of $61.20. The company has a market capitalization of $30.67 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 3.08 and a beta of 0.40.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.08. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same quarter last year, the firm earned $0.97 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.08%. Public Service Enterprise Group’s payout ratio is 60.26%.

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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.

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

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