Swedbank AB Invests $19.68 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 294,625 shares of the utilities provider’s stock, valued at approximately $19,675,000. Swedbank AB owned about 0.06% of Public Service Enterprise Group at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth $31,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the first quarter worth $36,000. Salomon & Ludwin LLC lifted its stake in Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. PFS Partners LLC lifted its stake in Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in Public Service Enterprise Group in the first quarter valued at $45,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PEG. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, June 17th. BMO Capital Markets raised their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday. Morgan Stanley lowered their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Scotiabank lowered their price target on 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. Finally, Mizuho raised their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $75.17.

Public Service Enterprise Group Price Performance

NYSE:PEG traded down $0.92 during mid-day trading on Friday, reaching $78.83. 5,215,383 shares of the stock were exchanged, compared to its average volume of 2,789,854. The business has a fifty day moving average price of $74.72 and a 200 day moving average price of $68.24. The firm has a market capitalization of $39.27 billion, a PE ratio of 21.84, a PEG ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $81.89. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results 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). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio is currently 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.