Today The Public Service Enterprise Group Incorporated (PEG) Shares Bought by First Trust Advisors LP

Today The Public Service Enterprise Group Incorporated (PEG) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,545,393 shares of the company’s stock after buying an additional 116,049 shares during the period. First Trust Advisors LP’s holdings in Public Service Enterprise Group were worth $106,576,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Public Service Enterprise Group by 67.0% in the third quarter. Nordea Investment Management AB now owns 9,042,998 shares of the company’s stock worth $378,630,000 after buying an additional 3,629,004 shares during the last quarter. BlackRock Advisors LLC increased its position in Public Service Enterprise Group by 27.6% in the second quarter. BlackRock Advisors LLC now owns 7,541,046 shares of the company’s stock worth $351,488,000 after buying an additional 1,632,324 shares during the last quarter. USS Investment Management Ltd increased its position in Public Service Enterprise Group by 801.3% in the second quarter. USS Investment Management Ltd now owns 1,330,299 shares of the company’s stock worth $61,999,000 after buying an additional 1,182,700 shares during the last quarter. BlackRock Fund Advisors increased its position in Public Service Enterprise Group by 7.3% in the second quarter. BlackRock Fund Advisors now owns 14,058,635 shares of the company’s stock worth $655,273,000 after buying an additional 951,808 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Public Service Enterprise Group during the second quarter worth about $28,544,000. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 43.3427 on Wednesday. The stock’s 50 day moving average is $43.47 and its 200 day moving average is $42.86. Public Service Enterprise Group Incorporated has a 52-week low of $39.15 and a 52-week high of $47.41. The company has a market cap of $21.93 billion, a PE ratio of 17.0641 and a beta of 0.27.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, October 31st. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a return on equity of 10.91% and a net margin of 13.99%. During the same period last year, the company earned $0.80 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post $2.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 9th were given a $0.41 dividend. The ex-dividend date was Wednesday, December 7th. This represents a $1.64 dividend on an annualized basis and a yield of 3.77%. Public Service Enterprise Group’s dividend payout ratio is currently 64.57%.

A number of research firms recently issued reports on PEG. Barclays PLC raised their price objective on shares of Public Service Enterprise Group from $46.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, January 20th. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, January 16th. RBC Capital Markets reissued a “hold” rating and issued a $48.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, January 4th. Deutsche Bank AG raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, December 20th. Finally, J P Morgan Chase & Co raised shares of Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $43.00 to $47.00 in a report on Friday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus price target of $46.41.

In related news, Chairman Ralph Izzo sold 25,895 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $41.74, for a total value of $1,080,857.30. Following the sale, the chairman now owns 738,182 shares in the company, valued at $30,811,716.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

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