M&R Capital Management Inc. Sells 1,925 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

M&R Capital Management Inc. lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,941 shares of the utilities provider’s stock after selling 1,925 shares during the quarter. M&R Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Tennessee Treasury Department boosted its stake in Public Service Enterprise Group by 74.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 181,411 shares of the utilities provider’s stock valued at $9,962,000 after buying an additional 77,452 shares in the last quarter. Advisory Alpha LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $80,000. Lombard Odier Asset Management Switzerland SA bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $585,000. Lombard Odier Asset Management Europe Ltd bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $235,000. Finally, Point72 Asset Management L.P. bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $3,970,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

PEG has been the subject of several research analyst reports. KeyCorp cut their price objective on Public Service Enterprise Group from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, January 12th. The Goldman Sachs Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Thursday, January 14th. Mizuho dropped their target price on Public Service Enterprise Group from $57.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday, January 8th. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $72.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, March 25th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.10.

PEG stock opened at $61.23 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.76 and a quick ratio of 0.59. The stock has a market capitalization of $30.93 billion, a P/E ratio of 16.24, a P/E/G ratio of 6.10 and a beta of 0.49. The business has a 50-day moving average of $57.78 and a 200-day moving average of $57.78. Public Service Enterprise Group Incorporated has a fifty-two week low of $43.87 and a fifty-two week high of $62.15.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Thursday, February 25th. The utilities provider reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Public Service Enterprise Group had a return on equity of 11.30% and a net margin of 19.74%. Public Service Enterprise Group’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.42 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Tuesday, March 9th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.33%. The ex-dividend date was Monday, March 8th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.49. Public Service Enterprise Group’s dividend payout ratio is presently 62.20%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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