Eastern Bank lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,643 shares of the utilities provider’s stock after selling 2,893 shares during the period. Eastern Bank’s holdings in Public Service Enterprise Group were worth $2,565,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PEG. Moors & Cabot Inc. acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $26,000. Bromfield Sneider Wealth Advisors acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $27,000. TAP Consulting LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $28,000. Covestor Ltd acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $32,000. Finally, Ahrens Investment Partners LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $33,000. 70.82% of the stock is owned by institutional investors and hedge funds.
In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $68.10, for a total value of $673,032.30. Following the transaction, the chief executive officer now directly owns 457,539 shares in the company, valued at $31,158,405.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 20,366 shares of company stock worth $1,396,145. Company insiders own 0.55% of the company’s stock.
NYSE PEG traded up $0.80 on Friday, reaching $64.08. The company’s stock had a trading volume of 37,731 shares, compared to its average volume of 2,652,712. The firm has a market cap of $31.99 billion, a PE ratio of -24.62, a price-to-earnings-growth ratio of 3.93 and a beta of 0.55. The business has a 50-day moving average price of $66.65 and a 200 day moving average price of $66.87. Public Service Enterprise Group Incorporated has a 52 week low of $58.19 and a 52 week high of $75.61. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.25.
Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.70 billion. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The company’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 9th were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, June 8th. This represents a $2.16 dividend on an annualized basis and a yield of 3.37%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -84.05%.
About Public Service Enterprise Group (Get Rating)
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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