Berry Wealth Group LP Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Berry Wealth Group LP raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,659 shares of the utilities provider’s stock after buying an additional 361 shares during the period. Public Service Enterprise Group comprises 1.3% of Berry Wealth Group LP’s holdings, making the stock its 26th biggest holding. Berry Wealth Group LP’s holdings in Public Service Enterprise Group were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $445,005,000. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after purchasing an additional 1,719,614 shares during the period. Schroder Investment Management Group lifted its position in shares of Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Public Service Enterprise Group by 476.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock worth $75,652,000 after purchasing an additional 759,873 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.6%

Shares of NYSE PEG opened at $83.44 on Tuesday. The company’s 50-day simple moving average is $80.35 and its 200-day simple moving average is $82.42. Public Service Enterprise Group Incorporated has a 52-week low of $72.82 and a 52-week high of $95.22. The firm has a market cap of $41.64 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.94 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. Public Service Enterprise Group’s payout ratio is presently 68.85%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PEG shares. Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Finally, Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.54.

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.