DekaBank Deutsche Girozentrale Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

DekaBank Deutsche Girozentrale boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,989 shares of the utilities provider’s stock after acquiring an additional 4,505 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Public Service Enterprise Group were worth $7,639,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Addison Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $31,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $36,000. Salomon & Ludwin LLC boosted its holdings in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. PFS Partners LLC boosted its holdings in shares of Public Service Enterprise Group by 90.9% during the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $45,000. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price 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. Mizuho lifted their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Bank of America lifted their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Finally, Scotiabank lowered their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.92 during midday trading on Friday, hitting $78.83. 5,215,383 shares of the company’s stock traded hands, compared to its average volume of 2,789,854. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The stock has a market capitalization of $39.27 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.62 and a current ratio of 0.65. The firm has a fifty day moving average of $74.72 and a 200 day moving average of $68.30.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid 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 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.