DekaBank Deutsche Girozentrale Boosts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

DekaBank Deutsche Girozentrale lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 114,989 shares of the utilities provider’s stock after acquiring an additional 4,505 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Public Service Enterprise Group were worth $7,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Addison Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $31,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the first quarter worth about $36,000. Salomon & Ludwin LLC lifted its stake in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $41,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 39.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Monday, June 17th. BMO Capital Markets upped their price objective 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. Bank of America upped their price objective on Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, 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 on Friday, reaching $78.83. 5,215,383 shares of the stock traded hands, compared to its average volume of 2,789,854. The firm’s fifty day simple moving average is $74.72 and its 200 day simple moving average is $68.30. The company has a quick ratio of 0.62, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a market cap of $39.27 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.97 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $0.70 EPS. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Public Service Enterprise Group Company Profile

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.