iA Global Asset Management Inc. Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

iA Global Asset Management Inc. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,798 shares of the utilities provider’s stock after purchasing an additional 1,514 shares during the quarter. iA Global Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $1,055,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PEG. First Western Trust Bank purchased a new stake in Public Service Enterprise Group during the first quarter worth approximately $211,000. Hancock Whitney Corp grew its stake in Public Service Enterprise Group by 0.3% during the first quarter. Hancock Whitney Corp now owns 155,396 shares of the utilities provider’s stock worth $10,377,000 after buying an additional 409 shares during the period. Alethea Capital Management LLC purchased a new stake in Public Service Enterprise Group during the first quarter worth approximately $517,000. Tidal Investments LLC grew its stake in Public Service Enterprise Group by 14.5% during the first quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock worth $1,509,000 after buying an additional 2,866 shares during the period. Finally, Levin Capital Strategies L.P. purchased a new stake in Public Service Enterprise Group during the first quarter worth approximately $334,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEG shares. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Monday, June 17th. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Bank of America upped their price target on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 3rd. Finally, Scotiabank cut their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.17.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $0.05 during trading hours on Thursday, reaching $79.72. The stock had a trading volume of 2,640,141 shares, compared to its average volume of 2,847,458. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $81.00. The firm has a 50-day simple moving average of $74.52 and a 200-day simple moving average of $68.03. The firm has a market capitalization of $39.71 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.78% and a net margin of 16.12%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business earned $0.70 EPS. The firm’s revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

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.